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Where value cannot be determined under Sec 15(1) (related parties / non-money consideration), it is determined under:
ARule 30
BRule 28
CRule 27
DRule 31
Answer & Solution
Correct answer: C. Rule 27
1. Rule 27 — consideration not wholly in money.
2. Rule 28 — distinct/related persons (not via agent).
3. Rule 29 — supply through agent. Rule 30 — cost-based (110% of cost of production/manufacture). Rule 31 — residual best-judgment value.
_Source: ICAI BoS CA Final Paper 8, Ch 5 "Value of Supply", §Rules 27-31_
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