Govt. notifies CGST rule for the following
Chapter IV – Determination of Value of Supply
Chapter V – Input Tax Credit
Chapter VI- TAX INVOICE, CREDIT AND DEBIT NOTES
Chapter VII- Accounts and Records
Chapter VIII- Returns
Chapter IX- Payment of Tax
Chapter X- Refund
CHAPTER XI- ASSESSMENT AND AUDIT
Chapter –XII- Advance Ruling
Chapter –XIII-Appeals and Revision
Chapter XIV-Transitional Provisions
Chapter XV- Anti-Profiteering
Chapter XVI- E-way Rules
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Notification No. 10/2017 – Central Tax
New Delhi, the 28 June, 2017
7 Ashadha, 1939 Saka
G.S.R. ( )E.:- In exercise of the powers conferred by section 164 of the Central Goods and Services tax Act, 2017 (12 of 2017), the Central Government, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-
1. (1) These rules may be called the Central Goods and Services Tax (Second Amendment) Rules, 2017.
(2) They shall come into force on the 1st day of July, 2017.
2. In the Central Goods and Services Tax Rules, 2017, after rule 26, the following shall be inserted, namely:-
“Chapter IV
Determination of Value of Supply
27. Value of supply of goods or services where the consideration is not wholly in money.- Where the supply of goods or services is for a consideration not wholly in money, the value of the supply shall,-
(a) be the open market value of such supply;
(b) if the open market value is not available under clause (a), be the sum total of consideration in money and any such further amount in money as is equivalent to the consideration not in money, if such amount is known at the time of supply;
(c) if the value of supply is not determinable under clause (a) or clause (b), be the value of supply of goods or services or both of like kind and quality;
(d) if the value is not determinable under clause (a) or clause (b) or clause (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 the application of rule 30 or rule 31 in that order.
