Value of supply of goods or services where the consideration is not wholly in money
Rule 27 of the CGST Rules
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Where consideration is not wholly in money, value is the open market value; failing that, money plus the money-equivalent of the non-monetary part; failing that, the value of like goods or services; and finally Rule 30 or 31.
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1,535 characters, uneditedReproduced from the CBIC text. We explain it above — but you should always be able to read it yourself.
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(a) be the open market value of such supply;
(b) if the open market value is not available under clause (a), be the sum total of consideration in money and any such further amount in money as is equivalent to the consideration not in money, if such amount is known at the time of supply;
(c) if the value of supply is not determinable under clause
(a) or clause (b), be the value of supply of goods or services or both of like kind and quality;
(d) if the value is not determinable under clause
(a) or clause
(b) or clause (c), be the sum total of consideration in money and such further amount in money that is equivalent to consideration not in money as determined by the application of rule 30 or rule 31 in that order. Illustration :
(1) Where a new phone is supplied for twenty thousand rupees along with the exchange of an old phone and if the price of the new phone without exchange is twenty four thousand rupees, the open market value of the new phone is twenty four thousand rupees.
(2) Where a laptop is supplied for forty thousand rupees along with the barter of a printer that is manufactured by the recipient and the value of the printer known at the time of supply is four thousand rupees but the open market value of the laptop is not known, the value of the supply of the laptop is forty four thousand rupee
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Text reproduced from the Central Board of Indirect Taxes and Customs, as available on 2026-09-05. The explanation and practice notes above are GSTZone’s own, written for this hub. If you spot anything out of date, tell us and we’ll fix it — this hub is checked daily against CBIC.
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