Value of supply of goods made or received through an agent
Rule 29 of the Central Goods and Services Tax Rules, 2017 deals with value of supply of goods made or received through an agent. The value of supply of goods between the principal and his agent shall- (a) be the open market value of the goods being supplied, or at the option of the supplier, be ninety percent. The Act came into force on 22 Jun 2017.
The value of supply of goods between the principal and his agent shall- (a) be the open market value of the goods being supplied, or at the option of the supplier, be ninety percent. of the price charged for the supply of goods of like kind and quality by the recipient to his customer not being a related person, where the goods are intended for further supply by the said recipient.
Illustration : A principal supplies groundnut to his agent and the agent is supplying groundnuts of like kind and quality in subsequent supplies at a price of five thousand rupees per quintal on the day of the supply. Another independent supplier is supplying groundnuts of like kind and quality to the said agent at the price off our thousand five hundred and fifty rupees per quintal. The value of the supply made by the principal shall be four thousand five hundred and fifty rupees per quintal or where he exercises the option, the value shall be 90 percent. of five thousand rupees i.e., four thousand five hundred rupees per quintal.
(b) where the value of a supply is not determinable under clause (a), the same shall be determined by the application of rule 30 or rule 31 in that order.
Rule 29, The Central Goods and Services Tax Rules, 2017 (Act G.S.R. 610(E) of 2017).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Rule 29
What does Rule 29 of the Central Goods and Services Tax Rules deal with?
Rule 29 of the Central Goods and Services Tax Rules is headed "Value of supply of goods made or received through an agent". The value of supply of goods between the principal and his agent shall- (a) be the open market value of the goods being supplied, or at the option of the supplier, be ninety percent.
How do I find court cases under Rule 29 of the Central Goods and Services Tax Rules?
In judgments and charge sheets this rule is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: CGST Rules 2017 29, rule 29 CGST Rules 2017, rule 29 of the Central Goods and Services Tax Rules. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Rule 29 of the Central Goods and Services Tax Rules, and has it changed?
5 other provisions in this corpus refer back to it.
When did Rule 29 of the Central Goods and Services Tax Rules come into force?
Rule 29 of the Central Goods and Services Tax Rules, cited as CGST Rules 2017 29, came into force on 22 Jun 2017, having been enacted on 19 Jun 2017. It is in force as at the date shown on this page.
Other rules of this Act
- 89. Application for refund of tax, interest, penalty, fees or any other amount3731 words
- 43. Manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases3015 words
- 138. Information to be furnished prior to commencement of movement of goods and generation of e-way bill2970 words
- 42. Manner of determination of input tax credit in respect of inputs or input services and reversal thereof2706 words
- 164. Procedure and conditions for closure of proceedings under section 128A in respect of demands issued under section2150 words
- 8. Application for registration2144 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Parsed from the consolidated PDF published by CBIC at taxinformation.cbic.gov.in. The provision list against which this parse was checked comes from the same portal, so a rule the document omits is still recorded. This page is not a substitute for legal advice.