Chapter - IV of CGST Rules, 2017
DETERMINATION OF VALUE OF SUPPLY
RULE 28. Value of supply of goods or services or both between distinct or related persons, other than through an agent. (corresponding section 15)
The value of the supply of goods or services or both between distinct persons as
specified in sub-section (4) and (5) of
section 25 or where the supplier and
recipient are related, other than where the supply is made through an agent,
shall-
(a) be the open market value of such supply;
(b) if the open market value is not available, be the value of supply of goods
or services of like kind and quality;
(c) if the value is not determinable under clause (a) or (b), be the value as
determined by the application of rule 30 or
rule 31, in that order:
Provided that where the goods are intended for further supply as such by the
recipient, the value shall, at the option of the supplier, be an amount
equivalent to ninety percent of the price charged for the supply of goods of
like kind and quality by the recipient to his customer not being a related
person:
Provided further that where the recipient is eligible for full input tax credit,
the value declared in the invoice shall be deemed to be the open market value of
the goods or services.