Deepak supplied biscuits to Arnold & Co regularly. It supplied 10,000 packets @ ₹ 20 per packet in the month of June 2023. Due to financial crises Arnold & Co could not make payment to Deepak. Later, it was negot

In this case, since the discount is being allowed after the supply is affected and there is no agreement between the parties for allowing such discount on or before the supply, the value shall be computed without considering the discount. These discounts shall not be excluded while determining the value of supply. There is no impact on the availability or otherwise of ITC in the hands of the supplier. Therefore, the value of taxable supply shall be ₹ 2,00,000. (10,000 packets @ ₹ 20) [Ignoring the discount given subsequently amounting to ₹ 10,000].