AAR: Valuation methods under Rule 28 applies if value for GST not ascertainable

Tamil Nadu AAR holds that the applicant (engaged in business of manufacture and trading of chemicals) for valuation of supply to distinct persons (DP) can adopt any of the three methods viz. (a) Open Market Value (OMV) (b) 90% of ultimate sale value as raised by DP to unrelated customers and (c) ‘invoice value’ as OMV as per Rule 28 of the CGST Rules, where full ITC is available to DP; Notes that applicant is engaged in stock transfer of their finished products to their u...