Value of Supply_Part-1 | CA Final & Inter Jan 2026 & May 2026 | CS & CMA Dec 2025 & Jun2026 |
📌 Complete Guide for CA, CMA, CS, and GST Professionals
🎓 Value of Supply under GST | Section 15(5) & Rules 31A to 32 Explained
📌 Complete Guide for CA, CMA, CS, and GST Professionals
In this lecture, we dive deep into the special valuation provisions under GST, focusing on Section 15(5) and the rules prescribed thereunder. These rules override the general transaction value method and apply to specific types of supplies.
🔍 Covered in this session:
✅ Section 15(5) – Government’s power to prescribe valuation rules for specific cases
✅ Rule 31A – Valuation of lottery, betting, gambling & horse racing
✅ Rule 31B – Valuation in life insurance business
✅ Rule 31C – Valuation of second-hand goods
✅ Rule 32 – Special valuation methods for certain supplies:
Sub-rule | Description |
32(1) | Supplier may opt for special valuation methods for specified supplies |
32(2) | Money Changing Services – Value based on RBI reference rate or fixed percentage slabs |
32(3) | Air Travel Agent Services – 5% of basic fare for domestic, 10% for international bookings |
32(4) | Insurance Distributor Services – Value is 50% of commission received |
32(5) | Purchase/Sale of Second-hand Goods – Value = Sale price minus purchase price (no ITC on purchase) |
32(6) | Vouchers/Coupons/Tokens – Value = Face value or redemption value |
32(7) | Notified Services by Government – Value as prescribed by notification |
📚 This lecture is ideal for:
- GST students preparing for exams
- Professionals handling complex valuation scenarios
- Businesses seeking clarity on non-standard supplies
