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Resource Centre / Categories :- Miscellaneous  » Miscellaneous
Is contract price not sufficient to determine valuation of supply?
Team SoOLEGAL | 01/01/1970

Contract price is more specifically referred to as ‘transaction value’ and that is the basis for computing tax.

However, when the price is influenced by some factors like relationship of parties or certain transactions are deemed to be supply, which do not have a price, it is required to overcome these factors to determine the transaction value correctly.


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