Valuation for stock transfer between branches

Tamil Nadu AAR has held that value to be adopted for branch transfer by any of the three methods

1. Open Market Value as is presently being adopted by them;

2. 90% of ultimate sale value as raised by distinct persons to un-related ultimate customers based on Purchase Orders in cases of ‘as such’ supplies;

3. When a recipient is eligible for full Input Tax credit paid by Applicant, ‘Invoice value’ is deemed to be the ‘Open Market Value’