Payments in currency held for numismatic value

Wherever, payment is received in the form of currency which is held for its numismatic value, in that case, the face value (tenor) of the currency alone will not be the monetary consideration and it can not be said that service has been provided for monetary consideration alone, as the market value of such coin/currency will be different from the apparent value. If service provider receives 100 silver coins of Re 1 for the service, then the value of service is not Rs 100/= because silver coin has numismatic value and taxable value cannot be arrived based on face value of the coins. In such circumstances, value has to be determined under section 67(ii) of the Finance Act, as if money is not the sole consideration for the taxable service.