Rule 22
Process Of Determination Of Market Value
(1) In determining the market value pursuant to Section 13 of the Act, the Tax Officer shall determine the market value by studying the transaction and price of similar other sellers registered in respect of similar transaction.
(2) In cases where the market price of any goods or services cannot be determined as mentioned in Sub-section (3) of Section 13 of the Act, the Director General has to determine the price on the basis inter alia, of the information received by him/her from the registered persons of similar kind in that respect.
(2) In cases where the market price of any goods or services cannot be determined as mentioned in Sub-section (3) of Section 13 of the Act, the Director General has to determine the price on the basis inter alia, of the information received by him/her from the registered persons of similar kind in that respect.