Question

My question is that if the open market value of the goods sent by the head office i.e. Ahmedabad is Rs.1,20,000/- then what will be the answer to the first point.

Answer

Proviso to Rule 28 of CGST Rules provides option to supplier to value the supply i.e. an amount equivalent to 90% of supply of like kind and quality of goods by recipient to unrelated customer, where the goods intended for further supply as such by recipient.


Further you can also take value declared in invoice to be open market value where the recipient is eligible for full input tax credit.

So, It is not mandatory you have the option to take open market value also i.e. Rs 120000/-.  (Reply dt.20/07/2018)