There are separate valuation provisions for goods and services under the CGST, SGST and IGST provisions. Examine the correctness of this statement.

Section 15 of CGST Act, 2017 determines the value of supply of goods or services or both. Further, provisions of section 15 as applicable for determining value of taxable supply under CGST Act has been made applicable to IGST Act as well vide section 20 of IGST Act, 2017. Section 20 of IGST Act inter alia provides that the provisions of CGST Act relating to time and value of supply shall mutatis mutandis apply in relation to integrated tax as they apply in relation to Central Tax. Thus section 15 is common for all three taxes and also common for goods and services. Hence, it is concluded that the given statement is not correct.