VAT & SD Act 2012
Section 32 - Determination of value of taxable supply
(as updated till Finance Ordinance 2025)
1[ (1) Subject to the provisions of this section, the value of a taxable supply shall be the consideration for such supply, reduced by an amount equal to the tax fraction of that consideration.
2[(2) The consideration of taxable supply of an imported service shall be the price of the supply or fair market price if the supplier and the recipient of the supply are related to each other. ]
(3) The value of taxable supply supplied to an associate by any registered person shall be the fair market price of such supply reduced by the tax fraction of that value, if-
(a) such supply is made for no consideration, or for a consideration that is lower than the fair market price; and
(b) such associate would not be entitled to a credit for all of the input tax arising out of such supply.
(4) Unless otherwise specified, the value of a taxable supply without consideration shall be the price arrived at by reducing tax fraction from the fair market price of the supply.
3[(5) In case of supply of goods, registered or enlisted person shall have to submit Input-Output Coefficient to the concerned officer in the prescribed manner. ]
1 Section 32 was substituted by section 70 of the Finance Act, 2019 (Act No. 10 of 2019) with effect from 01 July 2019.
2 Section 32(2) was substituted by section 59 of the Finance Act, 2020 (Act No. 09 of 2020) with effect from 01 July 2020.
3 Section 32(5) was substituted by section 43 of the Finance Act, 2021 (Act No. 11 of 2021) with effect from 01 July 2021.
Disclaimer: This is the authentic English text of The Value Added Tax and Supplementary Duty Act 2012, as published under SRO No. 440-Law/2025/326-Mushak dated 05 November 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.