Page 68 - GSTL_6th August 2020_Vol 39_Part 1

S20 GST LAW TIMES [ Vol. 39
In some cases, the
pre-tax value may
be different from
taxable value.
For example, where
old goods are ex-
changed for new
ones (e.g. new
phone supplied for
INR 20,000 along
with exchange of
old phone, then pre-
tax value would be
INR 20,000 and
taxable value would
be INR 24,000, as-
suming exchange
value of old phone
is 4,000.
Another example is
in the case of real
estate where pre-tax
value may be dif-
ferent from taxable
value.
A.1.2.14 Item_ 1..1 Item Manda- Number 5000 This is the value on
Tax- Taxable tory (Max which tax is com-
able_ Value length : puted. Value cannot
Value 12,2) be negative.
A.1.2.15 GST_ 1..1 GST Manda- Number 5 The GST rate, rep-
Rate Rate tory (Max resented as percent-
length : age that applies to
3,3) the invoiced item. It
will be IGST rate or
sum of CGST &
SGST Rates.
A.1.2.16 IGST_ 0..1 IGST Optional Number 999.45 Amount of IGST
Amt Amount (Max payable per item
Length : (rounded off to 2
12,2) decimals). If IGST is
reported, then
CGST & SGST/
UTGST will be
blank. For taxable
supplies, either
IGST or CGST &
SGST/UTGST
should be reported.

GST LAW TIMES  6th August 2020  68