A registered company sells goods to a related registered company for ₹2,00,000, the value declared in its invoice. Comparable goods have an open market value of ₹2,20,000, the recipient resells such…

Under the second proviso to rule 28(1) of the CGST Rules, where the recipient is eligible for full input tax credit, the value declared in the invoice is deemed to be the open market value, so ₹2,00,000 applies. ₹2,20,000 would apply under the main rule without that proviso, and ₹2,16,000, 90% of the resale price, is the optional value under the first proviso for goods resold as such.