Valuation on retail sale price for specified tobacco and pan masala products, with tax component extracted from retail price. Value of supply for specified packaged goods including pan masala and tobacco/nicotine products is deemed to be the declared retail sale price less the tax component, with the tax component extracted from the retail sale price by a prescribed formula. The retail sale price is defined as the maximum packaged consumer price including all taxes, and declared, altered, or area specific prices are treated as the retail sale price. Exemption for registered persons other than manufacturers is confined to such goods where the supplier has paid tax on that retail sale price basis.
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.
Valuation on retail sale price for specified tobacco and pan masala products, with tax component extracted from retail price.
Value of supply for specified packaged goods including pan masala and tobacco/nicotine products is deemed to be the declared retail sale price less the tax component, with the tax component extracted from the retail sale price by a prescribed formula. The retail sale price is defined as the maximum packaged consumer price including all taxes, and declared, altered, or area specific prices are treated as the retail sale price. Exemption for registered persons other than manufacturers is confined to such goods where the supplier has paid tax on that retail sale price basis.
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