consideration
Gauri Shanker Lal Srivastav (218 Points)
20 June 2018
What is the meaning of the term “Price is not the sole consideration”?
5 Replies
Jhalak Jain
(118 Points)
Replied 20 June 2018
Price is not the sole consideration means the price paid or payable for goods or service is less than the market value of goods or service
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 20 June 2018
The transaction value shall be accepted if the price is the sole consideration. In other words, what is received or what is to be received should only be the price paid or payable to the supplier. No other consideration in any form should be payable for the supply.
Vinod Babu
(24191 Points)
Replied 20 June 2018
section 15 value of supply "price is the sole consideration"
Just take example exchange your old mobile phone with new phone and pay some cash also... Example of price not the sole consideration... Valuation as per rule 27....and take another look example where u purchased a new phone only paying cash or bank... It is price sole consideration
Just take example exchange your old mobile phone with new phone and pay some cash also... Example of price not the sole consideration... Valuation as per rule 27....and take another look example where u purchased a new phone only paying cash or bank... It is price sole consideration
Gauri Shanker Lal Srivastav
(218 Points)
Replied 21 June 2018
I got it vinod ji .It's easy to understand by example.Thank you very much.
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