Go AD-Free with CAclubindia Pro and Daily Mobile Updates. Subscribe Now!

Please explain section 15 of CGST Act?

Suthaniya P (170 Points)

12 October 2024

Please explain section 15 of CGST Act?

Reply
Follow
Share

2 Replies

Rama chary Rachakonda (Master in Accounts & high court Advocate) (8521 Points)
Replied 12 October 2024

Section 15 of the CGST (Central Goods and Services Tax) Act, 2017 deals with the "Value of Taxable Supply". It explains how to determine the value of a taxable supply under GST. Here's a breakdown: - Sub-section (1): Defines the value of taxable supply as the transaction value, which is the price paid or payable for the supply, minus taxes and other specified charges. - Sub-section (2): Lists the inclusion and exclusion of various charges in the transaction value. - Sub-section (3): Provides rules for determining the transaction value in cases where the supply is made between related persons or is not at arm's length. - Sub-section (4): Allows for the determination of the value of supply based on the cost of production or manufacture, in cases where the transaction value is not reliable. - Sub-section (5): Provides for the determination of the value of supply in cases where the goods are sold through an agent. - Sub-section (6): Allows for the adjustment of the transaction value in cases where the supplier and recipient are related. It's important to consult a tax professional or expert for specific guidance on applying Section 15 to your particular situation, as GST regulations can be complex.

Suthaniya P (170 Points)
Replied 12 October 2024

Thank you.

CCI Pro

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

CCI Pro

Meet our PRO Members

Manish Tiwari

PRO MEMBER

Rashi Singla

PRO MEMBER

avinash

PRO MEMBER

xavier

PRO MEMBER

saravanan

PRO MEMBER

Subscribe to CAclubIndia Pro

Trending Online Classes

GST Demands and Recoveries: Navigating Through the Tides

CA Nipun Arora

Enroll Now

17 July 2025
Certification Course on Practical Filing of Income Tax Returns

CA Pratibha Goyal

Enroll Now

09 July 2025
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools

CA Deepak Gupta

Enroll Now

15 July 2025

view all classess

Follow us

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads

Recent Posts

Unreplied Threads

Settings