Rule 27 of CGST Rules
Value of supply of goods or services where consideration is not wholly in money
- The value of supply shall be-
a)The open market value of such supply
a)If open market value not available, be the sum total of consideration in money and such further amount in money as is equivalent to consideration not in money if such amount is not known at the time of supply
c)If value is not determinable under (a) or (b), the value of supply of goods/ services of like kind and quality
d)If value not determinable under (a), (b) or (c), be the sum total of consideration in money and such further amount in money that is equivalent to consideration not in money as determined by application of rule 30 or 31 in that order.
- Illustration:
(1)Where a new phone is supplied for Rs. 20,000/- along with the exchange of an old phone and if the price of the new phone without exchange is Rs. 24,000/- , the open market value of the new phone is Rs. 24,000/-.
(2) Where a laptop is supplied for Rs. 40,000/- along with the barter of a printer that is manufactured by the recipient and the value of the printer known at the time of supply is Rs. 4,000/- but the open market value of the laptop is not known, the value of the supply of the laptop is Rs. 44,000/-.