Valuation of specified tobacco and nicotine products set at declared retail sale price, tax computed by prescribed reverse-calculation formula. Establishes that the value of supply for specified packaged goods (pan masala, tobacco products, and nicotine inhalation products) shall be deemed to be the retail sale price declared on the package less tax, with tax amount calculated by the formula (Retail sale price x applicable tax rate) / (100 + sum of applicable tax rate); defines applicable tax and retail sale price rules for multiple, altered, or area-specific price labels.
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Provisions expressly mentioned in the judgment/order text.
Valuation of specified tobacco and nicotine products set at declared retail sale price, tax computed by prescribed reverse-calculation formula.
Establishes that the value of supply for specified packaged goods (pan masala, tobacco products, and nicotine inhalation products) shall be deemed to be the retail sale price declared on the package less tax, with tax amount calculated by the formula (Retail sale price x applicable tax rate) / (100 + sum of applicable tax rate); defines applicable tax and retail sale price rules for multiple, altered, or area-specific price labels.
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