Value of supply on retail sale price: specified tobacco products valued at declared retail price less applicable tax. Rule 31D deems the value of supply for specified tobacco and nicotine products to be the declared retail sale price on packaged goods less the amount of applicable tax, with tax amount calculated by the formula Tax amount = (Retail sale price X tax rate) / (100 + sum of applicable tax rate); definitions cover 'applicable tax', 'retail sale price', multiple or altered declared prices, and area-specific prices. Rule 86B is amended to exempt registered persons other than manufacturers only where the supplier has paid tax on the basis of retail sale price.