Rule 31 of CGST Rules -Residual method for determination of value of supply of goods or services or both

Rule 31 of CGST Rules -Residual method for determination of value of supply of goods or services or both

(updated as on 15.11.2017)

Where the value of supply of goods or services or both cannot be determined under rules 27to 30, the same shall be determined using reasonable means consistent with the principlesand 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.

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CHAPTER IV

DETERMINATION OF VALUE OF SUPPLY

Chapter IV of CGST Rules, 2017 consists of nine rules relating toDETERMINATION OF VALUE OF SUPPLY rulesunder the GST regime. Both these rules are available for your ready reference. Rule 27 :Value of supply of goods or services where the consideration is not wholly in money Rule 28 :Value of supply of goods or services or both between distinct or related persons, other than through an agent Rule 29 :Value of supply of goods made or received through an agent Rule 30 :Value of supply of goods or services or both based on cost Rule 31 :Residual method for determination of value of supply of goods or services or both Rule 32 :Determination of value in respect of certain supplies Rule 33 :Value of supply of services in case of pure agent Rule 34 :Rate of exchange of currency, other than Indian rupees, for determination of value Rule 35 :Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax

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