Provisions under Rule 31 of CGST Rules, 2017 relating to “Residual Method for Determination of Value of Supply of Goods or Services or both”:
CGST Rule 31: Residual Method for Determination of Value of Supply of Goods or Services or both (Chapter IV: Determination of Value of Supply) [*1]
Where the value of supply of goods or services or both cannot be determined under rules 27 to 30, the same shall be determined using reasonable means consistent with the principles and the general provisions of section 15 and the provisions of this Chapter:
Provided that in the case of supply of services, the supplier may opt for this rule, ignoring rule 30.
Notes (History of Amendments in Bare Text):
1. CGST Rule 31 introduced vide Notification 10/2017, effective 01/07/2017.
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