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1 - 2 of 2 (0.35 seconds)Commissioner Of Service Tax, Etc.Etc. vs M/S.Bhayana Builders (P) Ltd. Etc.Etc. on 18 November, 2016
he would further submit that perusal of Section 15(1)
would indicate that the value of supply shall be the
transaction value, which is the price actually paid or
payable and the words 'said supply' in conjunction
with the phrase 'price actually paid or payable' is
directly relatable to such supply agreed to be made;
learned counsel would submit that when the agreement
has been entered between the parties, the same cannot
be ignored while examining the tax liability. To
buttress his contention, learned counsel would place
upon the decision rendered by the Supreme Court in
the matter of Commissioner of Service Tax v
Bhayana Builders Private Limited 1 In the said case
examining the valuation provisions under the Service
Tax Act, it is held that free supplies made by the
service recipient cannot be added to the taxable value
of the service provider;
1