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          Value of supply of goods on basis of retail sale price (Rule 31D)

          Valuation / Value of Supply

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          Tobacco and nicotine products: value of supply fixed at declared retail sale price less tax using prescribed formula. Rule 31D deems the value of supply for specified tobacco and nicotine-related packaged goods to be the declared retail sale price on the package less the applicable tax. The applicable tax amount is computed as (Retail sale price x applicable tax rate) / (100 + sum of applicable tax rate). Definitions clarify that applicable tax includes IGST/CGST/SGST/UTGST, retail sale price is the maximum declared packaged price inclusive of all taxes, and the maximum or altered declared price governs valuation, with area-specific declared prices applying to supplies in those areas.
                            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                              Provisions expressly mentioned in the judgment/order text.

                                  Tobacco and nicotine products: value of supply fixed at declared retail sale price less tax using prescribed formula.

                                  Rule 31D deems the value of supply for specified tobacco and nicotine-related packaged goods to be the declared retail sale price on the package less the applicable tax. The applicable tax amount is computed as (Retail sale price x applicable tax rate) / (100 + sum of applicable tax rate). Definitions clarify that applicable tax includes IGST/CGST/SGST/UTGST, retail sale price is the maximum declared packaged price inclusive of all taxes, and the maximum or altered declared price governs valuation, with area-specific declared prices applying to supplies in those areas.


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