Value of Supply – Test 1

Ramanuj is a clearing and forwarding agent at a custom station. He charged Rs. 1 lakh from his client, which includes Rs.20,000 for actroi charges, paid on behalf of such client. What would be value for charging GST in such case ?

A custom house agent receives reimbursement from its client in respect of expenses like custom duty aid, port dues paid on behalf of such clients. In such a case, will such reimbursement be included in the value  of supply given by custom house agent ?

A person acts as a pure agent of the recipient of supply, when he

The expenditure incurred by a pure agent on behalf of the recipient of supply shall be excluded from the value of supply if following conditions are satisfied ?

Super Ltd, imported goods for USD 500. The exchange rate which will be used for computation of GST on date of filling of bill of entry will be

Renu Ltd. imported services for USD 500. The exchange rate which will be used for computation of GST would be _______ on date of time of supply

Andy Ltd. exported services for USD 900. The exchange rate which will be used for computation of GST on date of time of supply shall be

Candy Ltd. exported goods for USD 800. The exchange rate which will be used for computation  of GST on date of time of supply shall be

___ is more specifically referred to as “Transaction Value”

Valuation Rules are applicable when

Which of the following is not included in value of supply ?

Where the consideration is not wholly in money, value of supply of goods or services or both would be ______(if open market value is available )

Whether the custom valuation provision are applicable in case of import of services ?

Whether any specific valuation provisions are applicable for Composite and Mixed Supply as compare to Normal Supply ?

_______ option has been provided for dealers in second hand goods.

A has given his property on rent to B and received security deposit of Rs.5 lakhs which is refundable at the end of term of lease period, whether such deposit is to be included in value of supply in hands of A, if he utilize such deposit against rent ?

X gives his property on rent to Y and receive payment towards security deposit of Rs.5 lakhs which is refundable at the end of term of lease period, in such whether such deposit is to be included in value of supply in hands of X, if he does not utilize such deposit against rent.

When will be recipient and supplier be treated as related person under GST ?

What are notified supplies under section 15(5) of CGST Act, 2017 ?

Sumit purchased certain goods worth Rs.15,000 from Rohit, as a matter of security. Sumit made a request to provide additional packing on the given item for safe transportation which cost around Rs.2,000. Rohit charged value of additional packaging separately after the supply was made. What is the final value of such supply made ?

Mr.Ramesh is selling a product for Rs.1,180 inclusive of GST. Rate of CGST & SGST will be 9%. Determine the value of supply ?

Whether ad hoc discount given after supply is eligible for deduction from value ?

Mr.Anuj supplied to his related party Mr.Bharat goods for a value of Rs.1,00,000. The open market value of such goods is Rs.50,000. Is the transaction value acceptable for the valuation provision in GST ?

Radhe engaged in business of Computer items. He supplied a Laptop for Rs.50,000 along with exchange of a printer from Karan other dealer. Value of such printer exchanged at the time of supply was found to be worth Rs.10,000. however open market value of Laptop was not available at the time of such supply. What would be the value for the purpose of GST computation in hands of Radhe ?