Retail sale price valuation mandated for specified packaged tobacco and pan masala, changing GST valuation practice. Supplies of specified packaged goods-pan masala and defined tobacco and tobacco substitute products-must be valued using the declared retail sale price on the package. 'Retail sale price' is defined as the maximum price declared for sale to the ultimate consumer and where multiple prices are declared, the maximum applies; an increased declared price at any stage is treated as the retail sale price; area specific declared prices apply to supplies in those areas. Tariff terms and interpretive rules from the First Schedule to the Customs Tariff Act, 1975 apply to this clause.
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Provisions expressly mentioned in the judgment/order text.
Retail sale price valuation mandated for specified packaged tobacco and pan masala, changing GST valuation practice.
Supplies of specified packaged goods-pan masala and defined tobacco and tobacco substitute products-must be valued using the declared retail sale price on the package. "Retail sale price" is defined as the maximum price declared for sale to the ultimate consumer and where multiple prices are declared, the maximum applies; an increased declared price at any stage is treated as the retail sale price; area specific declared prices apply to supplies in those areas. Tariff terms and interpretive rules from the First Schedule to the Customs Tariff Act, 1975 apply to this clause.
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