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    Question

    Value of supply under section 15(1)

    is:
    A Wholesale price Correct Answer Incorrect Answer
    B Market value Correct Answer Incorrect Answer
    C Maximum retail price Correct Answer Incorrect Answer
    D Transaction value Correct Answer Incorrect Answer

    Solution

    The value of supply under section 15(1) of the Goods and Services Tax (GST) Act is typically determined as the "transaction value." This means that the value of the supply for GST purposes is generally based on the actual transaction price or the amount paid or payable for the supply of goods or services.

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