Tobacco and pan masala valuation now based on retail sale price less tax under amended GST rules. Inserts Rule 31D deeming the value of specified tobacco-related and pan masala goods to be the declared retail sale price less tax, prescribes the tax amount formula ((Retail sale price x tax rate) / (100 + sum of applicable tax rate)), and defines applicable tax, retail sale price (including multiple or altered prices and area-specific prices). Also exempts registered persons other than manufacturers from rule 86B for these goods where the supplier has paid tax on the retail sale price.
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 pan masala valuation now based on retail sale price less tax under amended GST rules.
Inserts Rule 31D deeming the value of specified tobacco-related and pan masala goods to be the declared retail sale price less tax, prescribes the tax amount formula ((Retail sale price x tax rate) / (100 + sum of applicable tax rate)), and defines applicable tax, retail sale price (including multiple or altered prices and area-specific prices). Also exempts registered persons other than manufacturers from rule 86B for these goods where the supplier has paid tax on the retail sale price.
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