Rule 29 - Value of Supply of goods made or received through an agent
The value of supply of goods between the principal and his agent shall-
a) Be the open market value of the goods being supplies or at the option of supplier be 90% of the price charged for the supply of goods of like kind and quality by the recipient to his customer not being related person, where the goods are intended for further supply by the said recipient.
b) Where the value of a supply is not determinable under clause (a), the same shall be determined by the application of Rule 30 or Rule 31 in that order.
The value of supply of goods between the principal and his agent shall-
a) Be the open market value of the goods being supplies or at the option of supplier be 90% of the price charged for the supply of goods of like kind and quality by the recipient to his customer not being related person, where the goods are intended for further supply by the said recipient.
b) Where the value of a supply is not determinable under clause (a), the same shall be determined by the application of Rule 30 or Rule 31 in that order.
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