Rule 33,34 & 35 of Valuation Rules under GST

Rule 33 - Value of Supply of Services in case of Pure Agent

Nothwithstanding anything contained in the provisions of this Chapter, the expenditure or costs incurred by the supplier as a pure agent of the recipient of supply, shall be excluded from the value of supply, if all the following conditions are satisfied, namely:

i) The supplier act as a pure agent of the recipient of the supply, when he makes the payment to the third party on authorisation by such recipient.

ii) The payment made by the pure agent on behalf of the recipient of supply has been separately indicated in the invoice issued by the pure agent to the recipient of service, and

iii) The supplies procured by the pure agent from the third party as a pure agent of the recipient of supply are in addition to the services he supplies on his own account.

Explanation- For the purposes of this role, the expression "Pure Agent" means a person who-
a) Enters into a Contractual Agreement with the recipient of supply to act as his pure agent to incur expenditure or costs in the course of supply of goods or services or both,

b) Neither intends to hold nor holds any title to the goods or services or both so procured or supplied as pure agent of the recipient of supply.

c) Does not use for his own interest such goods or services so procured, and

d) Receives only the actual amount incurred to procure such goods or services in addition to the amount received for supply he provided on his own account.

Example
Suppose on wedding of Mohan, the Pandal owner Ram also arranges the photographer and caterer and enters into contractual agreement with Mohan that he acts as a pure agent on behalf on Mohan and make payment to photographer and caterer on behalf of Mohan of Rs 80,000/- and Rs 1,00,000/- respectively. Now, for his own services he charges Rs 2,20,000/-. On the condition that amount of Rs 80,000/- and Rs 1,00,000/- is separately indicated in the invoice and no extra amount is charged by Ram on that amount, then only no GST is charges on Rs 80,000/- and Rs 1,00,000/-.

Rule 34 - Rate of Exchange of currency, other than Indian Rupees, for determination of value

1) For Goods : The rate of exchange for determination of value of taxable goods shall be the applicable rate of exchange as notified by the Board (CBEC) under section 14 of Customs Act, 1962 for the date of time of supply of such goods in terms of section 12 of the Act.

2) For Services : The rate of exchange for determination of value of taxable services shall be the applicable rate of exchange determined as per the generally accepted accounting principles (GAAP) for the date of time of supply of such services in terms of section 13 of the Act. 

Rule 35 - Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax

Where the value of supply is inclusive of integrated tax or, as the case may be, central tax, state tax, Union territory tax, the tax amount shall be determined in the following manner, namely:

Tax Amount = (Value inclusive of taxes x tax rate in % of IGST, or as case may be, CGST, SGST or UTGST) / (100 + sum of tax rates, as applicable, in %)