GST Rules provide 'open market' valuation, documentation & procedure for ITC availment, transition & composition

Draft “Rules for Determination of Value of Supply” provide for ‘open market’ valuation of supplies where consideration is not wholly in money, supplies between distinct / related persons other than through agent, and supplies made / received through an agent; Rules also provide for valuation in case of supply of services in relation to purchase or sale of foreign currency including money changing, supply of services in relation to life insurance business, supply ...