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	<p><span style="font-size:14px"><span style="background-color:white"><span style="color:black">Value of supply means the money that a seller would want to collect for the goods and services supplied.</span></span></span></p>
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	<p><span style="font-size:14px"><span style="background-color:white"><span style="color:black">The amount collected by the seller from the buyer is the&nbsp;<a href="https://cleartax.in/s/valuation-of-supply-under-gst" style="color:blue; text-decoration:underline" target="_blank"><span style="color:black">value of supply</span></a>.</span></span></span></p>
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	<p><span style="font-size:14px"><span style="color:black">Currently, GST will be charged on the &lsquo;transaction value&rsquo;. Transaction value is the price actually paid (or payable) for the supply of goods/services between un-related parties (i.e., price is the sole consideration)&nbsp;<em>The value of supply under GST shall include:</em></span></span></p>
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	<p><span style="font-size:14px"><span style="background-color:white"><span style="color:black">Any taxes, duties, cess, fees, and charges levied under any act, <strong>except GST</strong>. GST Compensation Cess will be excluded if charged separately by the supplier.</span></span></span></p>
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	<p><span style="font-size:14px"><span style="background-color:white"><span style="color:black">Any amount that the supplier is liable to pay which has been incurred by the recipient and is not included in the price.</span></span></span></p>
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	<p><span style="font-size:14px"><span style="background-color:white"><span style="color:black">The value will include all&nbsp;incidental expenses&nbsp;in relation to sale such as packing, commission etc.</span></span></span></p>
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	<p><span style="font-size:14px"><span style="background-color:white"><span style="color:black">Subsidies linked to supply, except Government subsidies will be included.</span></span></span></p>
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	<p><span style="font-size:14px"><span style="background-color:white"><span style="color:black">Interest/late</span><span style="color:#1e314f"> fee/penalty&nbsp;for delayed payment of consideration will be included.</span></span></span></p>
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	<p><span style="font-size:14px"><span style="background-color:white"><span style="color:black">But where </span><span style="color:red">parties are related </span><span style="color:black">and a reasonable value may not be charged, or transaction may take place as a barter or exchange; the GST law prescribes that the value on which GST is charged must be its &lsquo;transactional value&rsquo;.&nbsp;This is the value at which unrelated parties would transact in the normal course of business. It makes sure GST is charged and collected properly, even though the full value may not have been paid.</span></span></span></p>
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