{"id":9340,"date":"2026-03-01T05:00:00","date_gmt":"2026-03-01T05:00:00","guid":{"rendered":"https:\/\/margbooks.com\/blogs\/?p=9340"},"modified":"2026-02-28T12:29:53","modified_gmt":"2026-02-28T12:29:53","slug":"section-15-of-cgst-act","status":"publish","type":"post","link":"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/","title":{"rendered":"What Should Be Included in Value as per Section 15 of CGST Act?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69_1 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1c6e70;color:#1c6e70\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1c6e70;color:#1c6e70\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Understanding_Section_15_of_CGST_Act\" title=\"Understanding Section 15 of CGST Act\">Understanding Section 15 of CGST Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Inclusions_in_Value_of_Supply\" title=\"Inclusions in Value of Supply\">Inclusions in Value of Supply<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Incidental_Expenses\" title=\"Incidental Expenses\">Incidental Expenses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Commission_and_Packing_Charges\" title=\"Commission and Packing Charges\">Commission and Packing Charges<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Interest_Late_Fee_or_Penalty_for_Delayed_Payment\" title=\"Interest, Late Fee, or Penalty for Delayed Payment\">Interest, Late Fee, or Penalty for Delayed Payment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Exclusions_from_Value_of_Supply\" title=\"Exclusions from Value of Supply\">Exclusions from Value of Supply<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Post-Supply_Discounts\" title=\"Post-Supply Discounts\">Post-Supply Discounts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Example\" title=\"Example:\">Example:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Government_Subsidies\" title=\"Government Subsidies\">Government Subsidies<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Recent_Updates_and_Valuation_Clarifications\" title=\"Recent Updates and Valuation Clarifications\">Recent Updates and Valuation Clarifications<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Related_Party_Transactions\" title=\"Related Party Transactions\">Related Party Transactions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Clarification_on_Discounts\" title=\"Clarification on Discounts\">Clarification on Discounts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Compliance_Expectations\" title=\"Compliance Expectations\">Compliance Expectations<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Why_Accurate_Valuation_Matters\" title=\"Why Accurate Valuation Matters?\">Why Accurate Valuation Matters?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Correct_Tax_Liability\" title=\"Correct Tax Liability\">Correct Tax Liability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Avoiding_Notices\" title=\"Avoiding Notices\">Avoiding Notices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Preventing_Interest_Under_GST\" title=\"Preventing Interest Under GST\">Preventing Interest Under GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Audit_Safety\" title=\"Audit Safety\">Audit Safety<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Practical_Business_Examples\" title=\"Practical Business Examples\">Practical Business Examples<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/margbooks.com\/blogs\/section-15-of-cgst-act\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>Correct valuation is at the core of GST compliance. Under Section 15 of CGST Act, tax is charged on the &#8220;value of supply.&#8221; If the value is wrong, the tax becomes wrong. That directly influences liability, input tax credit, exposure to interest, and the outcome of the auditors. This provision is applied for goods and services in the entire region of India.&nbsp;<\/p>\n\n\n\n<p>It stipulates what has to be included in the taxable value while what has to be excluded. It also interacts with the rules of valuation, discount and pricing norms of related parties. Understanding of it helps protect businesses from the notice and penalty for it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Understanding_Section_15_of_CGST_Act\"><\/span>Understanding Section 15 of CGST Act<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The section 15 of CGST Act provides for the principles of determining the value of taxable supply. The basic rule is simple:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Value is cost of transaction.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Supplier recipient are not related.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Price is the only reason for consideration.<\/li>\n<\/ul>\n\n\n\n<p>If these conditions do not apply, then valuation rules apply. The section then defines some mandatory inclusions and exclusions. These determine the final taxable amount of GST calculated.<\/p>\n\n\n\n<div class=\"btn-div\">\n\n    <a href=\"https:\/\/me9.in\/MBB\" class=\"marg-btn\" target=\"_blank\" rel=\"noopener\">Get Online Accounting Software<\/a>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Inclusions_in_Value_of_Supply\"><\/span>Inclusions in Value of Supply<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Any tax, duty, cess or fee, charged under any law other than the Goods and Services Tax, shall be a part of value if the same is charged separately. Examples:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Municipal tax created by the customer<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Environmental cess<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Entry tax under local law<\/li>\n<\/ul>\n\n\n\n<p>These amounts are included in taxable value. A manufacturer in Maharashtra adds the cost of the product to be sold, including the local municipal levy. GST is to be calculated on the amount inclusive of such levy under Section 15 of CGST Act.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Incidental_Expenses\"><\/span>Incidental Expenses<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>All the expenses charged before or at the time of supply must be included. This includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Packing charges<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Loading and handling<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Freight recovered from the customer<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Insurance<\/li>\n<\/ul>\n\n\n\n<p>A manufacturer supplies machinery for \u20b95,00,000 and freight charges \u20b920,000 separately for this. GST applies on \u20b95,20,000. Many businesses fail to do this in the billing process. Proper configurations in <a href=\"https:\/\/margbooks.com\/gst-billing-software.html\">GST billing software<\/a> leads to reduction of such errors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Commission_and_Packing_Charges\"><\/span>Commission and Packing Charges<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If commission or packing cost is charged by the supplier, then it becomes a part of the taxable value. This is even when shown separately on the invoice. Agents commission recovered from the buyer also to be included.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Interest_Late_Fee_or_Penalty_for_Delayed_Payment\"><\/span>Interest, Late Fee, or Penalty for Delayed Payment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Any amount of additional charge for delayed payment must be added to the value. This is than taxable at the time of receipt.<\/p>\n\n\n\n<p>The service provider charges \u20b92,000 as late fee for delayed amount payment to \u20b9200,000. GST applies on this \u20b92,000. Businesses must account for such receipt regardless.&nbsp;<\/p>\n\n\n\n<p>Subsidies associated with price will be included in value if received from non-government entities. Government subsidies are not included.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exclusions_from_Value_of_Supply\"><\/span>Exclusions from Value of Supply<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Value in which GST is charged. The taxable value is calculated before adding CGST, SGST or IGST.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Post-Supply_Discounts\"><\/span>Post-Supply Discounts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Post supply discounts can be excluded only if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>They are agreed upon in advance before supply<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Linked to specific invoices<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ITC is reversed by recipient<\/li>\n<\/ul>\n\n\n\n<p>Recent clarifications of GST Council and CBIC reiterate strict compliance to these requirements. If documentation is weak, discount may be disallowed in the course of audit.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Example\"><\/span>Example:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A trader give discount on the turnover of a specific period at the end of year as per pre-agreed contract. Issues credit note, recipient reverse ITC taxable value reduced discount Without ITC reversal there is no deduction permitted.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Government_Subsidies\"><\/span>Government Subsidies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Subsidies provided by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Central Government<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>State Government<\/li>\n<\/ul>\n\n\n\n<p>This relief acts as a support to policy based incentive support to sectors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Updates_and_Valuation_Clarifications\"><\/span>Recent Updates and Valuation Clarifications<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Recent discussions of GST Council and circulars issued by CBIC have made it clear on valuation aspects under the Section 15 of CGST Act.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_Party_Transactions\"><\/span>Related Party Transactions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Valuation has to follow Rule 28, in cases where the supplier and recipient are related. Clarification:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Open market value preferred<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If recipient eligible for full ITC declared invoice value accepted<\/li>\n<\/ul>\n\n\n\n<p>This has minimized disputes in group companies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Clarification_on_Discounts\"><\/span>Clarification on Discounts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The recent circular clarified:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Secondary discounts without prior agreement cannot bring down taxable value.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Financial Credits notes without impact of GST are permissible.<\/li>\n<\/ul>\n\n\n\n<p>Businesses need to have good documentation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Compliance_Expectations\"><\/span>Compliance Expectations<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Authorities now expect:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Convergence of GSTR-1 and financial books<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Appropriate reporting of interest income<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Correct subsidy treatment<\/li>\n<\/ul>\n\n\n\n<p>Mismatch triggers scrutiny. Digital systems are used to help ensure the alignment. Many businesses are using our <a href=\"https:\/\/margbooks.com\/accounting-software.html\">Accounting software<\/a> to properly chart freight, interest, and commission in invoices. Our platform also helps to track on credit notes related to original invoices. For audits, valuing differences are often first detected.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Accurate_Valuation_Matters\"><\/span>Why Accurate Valuation Matters?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Valuation is incorrect, there are serious consequences.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Correct_Tax_Liability\"><\/span>Correct Tax Liability<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Under-reporting value causes short payment. Over-reporting increases the blockage of working capital.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Avoiding_Notices\"><\/span>Avoiding Notices<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Most GST notices arise due to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Discount mismatch<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Freight exclusion<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Interest not taxed<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Related party pricing gaps<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Preventing_Interest_Under_GST\"><\/span>Preventing Interest Under GST<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Short payment attracts interest at Section 50. Interest burden is expected to be more when the error persists month by month.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Audit_Safety\"><\/span>Audit Safety<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>During departmental audit:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Officers check incidental expenses<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cross-check subsidies<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Review credit notes<\/li>\n<\/ul>\n\n\n\n<p>Good documentation accompanied by systems minimizes exposure. Businesses who use MargBooks software often coordinate billing and accounting charges without wrinkles. It helps in tracking of price linked subsidy correctly which helps in departmental verification.<\/p>\n\n\n\n<div class=\"btn-div\">\n\n    <a href=\"https:\/\/me9.in\/MBB\" class=\"marg-btn\" target=\"_blank\" rel=\"noopener\">Get Cloud-Based GST Billing Software<\/a>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Practical_Business_Examples\"><\/span>Practical Business Examples<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Manufacturer includes freight and insurance in the price of the invoice. GST applied on total.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Trader give 5% of agreed turnover in advance and give them GST credit note with ITC reversal.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Service provider collects the delayed payment interest and pays the GST on the receipt.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>MSME takes state government subsidy out of taxable value.<\/li>\n<\/ul>\n\n\n\n<p>These situations have arisen under Section 15 of CGST Act.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Understanding Section 15 of CGST Act is important for every business in India which is registered on GST. It makes up a definition of what will and will not enter the taxable value. Error in freight inclusion, handling discount, taxation of interest, or subsidy would cause notices and interest liability. Recent clarifications have placed much stricter expectations placed on documentation and related party pricing.&nbsp;<\/p>\n\n\n\n<p>Businesses have to make sure they examine their billing structure closely. Correct valuation helps in proper payment of taxes under <a href=\"https:\/\/margbooks.com\/\">MargBooks software<\/a>, protection of input tax credit flow and also strengthens audit readiness. There are strong systems and disciplined processes which help in a smoother and legally secured GST compliance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Correct valuation is at the core of GST compliance. Under Section 15 of CGST Act, tax is charged on the &#8220;value of supply.&#8221; If the value is wrong, the tax becomes wrong. That directly influences liability, input tax credit, exposure to interest, and the outcome of the auditors. This provision is applied for goods and [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":9341,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[38],"tags":[2539,57,86],"class_list":["post-9340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst","tag-cgst-act","tag-cloud-based-accounting-software","tag-gst-billing-software"],"blocksy_meta":[],"blog_post_layout_featured_media_urls":{"thumbnail":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2-150x150.webp",150,150,true],"full":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2.webp",1200,576,false]},"categories_names":{"38":{"name":"GST","link":"https:\/\/margbooks.com\/blogs\/category\/gst\/"}},"tags_names":{"2539":{"name":"CGST Act","link":"https:\/\/margbooks.com\/blogs\/tag\/cgst-act\/"},"57":{"name":"cloud based accounting software","link":"https:\/\/margbooks.com\/blogs\/tag\/cloud-based-accounting-software\/"},"86":{"name":"gst billing software","link":"https:\/\/margbooks.com\/blogs\/tag\/gst-billing-software\/"}},"comments_number":"0","wpmagazine_modules_lite_featured_media_urls":{"thumbnail":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2-150x150.webp",150,150,true],"cvmm-medium":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2-300x300.webp",300,300,true],"cvmm-medium-plus":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2-305x207.webp",305,207,true],"cvmm-portrait":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2-400x576.webp",400,576,true],"cvmm-medium-square":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2-600x576.webp",600,576,true],"cvmm-large":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2-1024x576.webp",1024,576,true],"cvmm-small":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2-130x95.webp",130,95,true],"full":["https:\/\/margbooks.com\/blogs\/wp-content\/uploads\/2026\/02\/CGST-2.webp",1200,576,false]},"_links":{"self":[{"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/posts\/9340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/comments?post=9340"}],"version-history":[{"count":1,"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/posts\/9340\/revisions"}],"predecessor-version":[{"id":9342,"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/posts\/9340\/revisions\/9342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/media\/9341"}],"wp:attachment":[{"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/media?parent=9340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/categories?post=9340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/margbooks.com\/blogs\/wp-json\/wp\/v2\/tags?post=9340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}