Rule 31 of CGST Rules 2017: Residual Method for Determination of Value of Supply of Goods/ Services

Rule 31 of ‘Central Goods and Services Tax (CGST) Rules 2017’: Residual Method for Determination of Value of Supply of Goods or Services or both

Provisions under Rule 31 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Residual Method for Determination of Value of Supply of Goods or Services or both”, as per CGST (2nd Amendment) Rules 2017 notified by CBEC on 28 June 2017, applicable w.e.f. 1 July 2017, are as under:

CGST Rule 31: Residual Method for Determination of Value of Supply of Goods or Services or both (Chapter-IV: Determination of Value of Supply)

Where the value of supply of goods or services or both cannot be determined under rules 27 to 30, the same shall be determined using reasonable means consistent with the principles and the general provisions of section 15 and the provisions of this Chapter:

Provided that in the case of supply of services, the supplier may opt for this rule, ignoring rule 30.

Related Posts:

CGST (2nd Amendment) Rules, 2017: CGST Notification No. 10/2017

CGST (Amendment) Rules 2017: CGST Notification No. 7/2017

CGST Rules 2017: CGST Notification No. 3/2017 dt. 19 June 2017

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