What is the meaning of Open Market Value of supply of goods or services under GST?

What is the meaning of Open Market Value of supply of goods or services under GST?

Open market estimation of a supply of products or administrations or the two means the full an incentive in cash, (barring GST and cess) where the provider and the beneficiary of the supply are not related and cost is the sole thought, to acquire such supply in the meantime when the supply being esteemed is made. 

Illustration: Suppose Mr.A offers 30 portable workstation at Rs.25000 each. Notwithstanding, in the meantime, he provided the 10 portable PC at Rs.20,000 each to his relatives. Presently, since provider and beneficiary are connected, subsequently valuation might be done as per rules. According to rules, open market esteem should be taken. For our situation, the open market esteem is Rs.25,000 which is a full an incentive in cash.


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