Value of supply based on retail sale price applies to specified tobacco products; tax amount computed from declared retail price. Rule 31D deems the value of supply for specified tobacco and nicotine-related goods to be the declared retail sale price on packaged goods less the amount of tax, with tax amount calculated by the formula: (Retail sale price x tax rate) / (100 + sum of applicable tax rate). Definitions treat applicable tax as IGST/CGST/SGST/UTGST and retail sale price as the maximum price declared on the package including all taxes; rules address multiple, altered, or area-specific retail prices. Rule 86B is amended to exempt non-manufacturer registered persons in respect of these goods where 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.
Value of supply based on retail sale price applies to specified tobacco products; tax amount computed from declared retail price.
Rule 31D deems the value of supply for specified tobacco and nicotine-related goods to be the declared retail sale price on packaged goods less the amount of tax, with tax amount calculated by the formula: (Retail sale price x tax rate) / (100 + sum of applicable tax rate). Definitions treat applicable tax as IGST/CGST/SGST/UTGST and retail sale price as the maximum price declared on the package including all taxes; rules address multiple, altered, or area-specific retail prices. Rule 86B is amended to exempt non-manufacturer registered persons in respect of these goods where supplier has paid tax on the retail sale price.
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