Pan masala and tobacco valuation: value deemed as declared retail sale price less tax, with prescribed tax computation. Value of supply for specified pan masala, tobacco and inhalation products is deemed to be the retail sale price declared on packaged goods less the applicable tax amount, computed by Tax amount = (Retail sale price x applicable tax rate) / (100 + sum of applicable tax rate). 'Applicable tax' means IGST, CGST, SGST or UTGST. 'Retail sale price' is the maximum declared price on the package, includes all taxes and where multiple or altered prices exist the maximum or altered increased price applies; area-specific declared prices apply to supplies in those areas. An amendment limits a composition-related exemption for non-manufacturers to goods on which the supplier has paid tax on the retail sale price.
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Provisions expressly mentioned in the judgment/order text.
Pan masala and tobacco valuation: value deemed as declared retail sale price less tax, with prescribed tax computation.
Value of supply for specified pan masala, tobacco and inhalation products is deemed to be the retail sale price declared on packaged goods less the applicable tax amount, computed by Tax amount = (Retail sale price x applicable tax rate) / (100 + sum of applicable tax rate). "Applicable tax" means IGST, CGST, SGST or UTGST. "Retail sale price" is the maximum declared price on the package, includes all taxes and where multiple or altered prices exist the maximum or altered increased price applies; area-specific declared prices apply to supplies in those areas. An amendment limits a composition-related exemption for non-manufacturers to goods on which the supplier has paid tax on the retail sale price.
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