Valuation of pan masala and tobacco now uses declared retail sale price for GST valuation, effective Feb 1. Supplies of specified goods - pan masala; unmanufactured tobacco and tobacco refuse; cigars, cheroots, cigarillos and cigarettes; other manufactured tobacco and substitutes; and tobacco or nicotine inhalation products - shall be valued for tax purposes where a retail sale price is declared on packaged goods. 'Retail sale price' is defined as the maximum packaged price to the ultimate consumer inclusive of all taxes and related charges; where multiple or altered prices are declared the maximum or altered price applies; area specific declared prices govern valuation for that area. Tariff nomenclature and interpretation rules of the First Schedule to the Customs Tariff Act, 1975 apply.
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Provisions expressly mentioned in the judgment/order text.
Valuation of pan masala and tobacco now uses declared retail sale price for GST valuation, effective Feb 1.
Supplies of specified goods - pan masala; unmanufactured tobacco and tobacco refuse; cigars, cheroots, cigarillos and cigarettes; other manufactured tobacco and substitutes; and tobacco or nicotine inhalation products - shall be valued for tax purposes where a retail sale price is declared on packaged goods. "Retail sale price" is defined as the maximum packaged price to the ultimate consumer inclusive of all taxes and related charges; where multiple or altered prices are declared the maximum or altered price applies; area specific declared prices govern valuation for that area. Tariff nomenclature and interpretation rules of the First Schedule to the Customs Tariff Act, 1975 apply.
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