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 GST - Valuation Under GST law as per sec 15 CGST Act taxable value is the transaction value i.e. price actually paid or payable, provided the supplier and the recipient are not related and price is the sole consideration Compulsory Inclusions  Any taxes, fees, charges levied under any law other than GST law, ex¬penses incurred by the recipient on behalf of the supplier, incidental ex¬penses like commission & packing incurred by the supplier, interest or late fees or penalty for delayed payment and direct subsidies (except government subsidies) are also to be added to the price (if not already added) to arrive at the taxable value. Exclusions Discounts like trade discount, quantity discount etc. are part of the nor-mal trade and commerce, therefore pre-supply discounts i.e. discounts recorded in the invoice have been allowed to be excluded while deter-mining the taxable value.  Discounts provided after the supply can also be excluded while deter-mining the taxable value provided tw