In terms of Rule 32(7) of the CGST Rules, the value of taxable services provided by such class of service providers as may be notified by the Government, on the recommendations of the Council, as referred to in paragraph 2 of Schedule I of the CGST Act between distinct persons as referred to in section 25, where ITC is available, shall be deemed to be…
A. ₹ 10,000/-
B. Arm’s length price as required under the Income Tax law
C. NIL
D. As per the contract between the supplier and recipient
Answer:C
In terms of Rule 32(7) of the CGST Rules, the value of taxable services provided by such class of service providers as may be notified by the Government, on the recommendations of the Council, as referred to in paragraph 2 of Schedule I of the CGST Act between distinct persons as referred to in section 25, where ITC is available, shall be deemed to be…
A. ₹ 10,000/- B. Arm’s length price as required under the Income Tax law C. NIL D. As per the contract between the supplier and recipient