Retail sale price valuation rules expand for specified tobacco and pan masala goods under the GST framework. A further amendment under the Nagaland Goods and Services Tax Act, 2017 expands the valuation framework for specified goods sold with a declared retail sale price. The inserted clause applies to supplies of pan masala, unmanufactured tobacco and tobacco refuse, cigars and cigarettes, other manufactured tobacco and tobacco substitutes, and products containing tobacco or nicotine substitutes intended for inhalation without combustion, where the goods fall under the specified tariff classifications and are packaged with a declared retail sale price. The notification defines retail sale price and sets rules for multiple declarations, altered prices, area-specific prices, and tariff interpretation.
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Retail sale price valuation rules expand for specified tobacco and pan masala goods under the GST framework.
A further amendment under the Nagaland Goods and Services Tax Act, 2017 expands the valuation framework for specified goods sold with a declared retail sale price. The inserted clause applies to supplies of pan masala, unmanufactured tobacco and tobacco refuse, cigars and cigarettes, other manufactured tobacco and tobacco substitutes, and products containing tobacco or nicotine substitutes intended for inhalation without combustion, where the goods fall under the specified tariff classifications and are packaged with a declared retail sale price. The notification defines retail sale price and sets rules for multiple declarations, altered prices, area-specific prices, and tariff interpretation.
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