Rule 31D
Value of supply of goods on basis of retail sale price
[Notwithstanding anything contained in the provisions of this Chapter, the value of supply of goods bearing the description specified in column (3), falling under the corresponding Chapter/ heading/ sub-heading/ tariff item specified in column (2), of the Table below, shall be deemed to be the retail sale price declared on such goods, less the amount of tax as applicable, namely:-
TABLE
| S. No. | Chapter / Heading / Sub-heading / Tariff item | Description of Goods |
| (1) | (2) | (3) |
| 1. | 2106 90 20 | Pan masala |
| 2. | 2401 | Unmanufactured tobacco; tobacco refuse [other than tobacco leaves] |
| 3. | 2402 | Cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco substitutes |
| 4. | 2403 | Other manufactured tobacco and manufactured tobacco substitutes; “homogenised” or “reconstituted” tobacco; tobacco extracts and essences (other than biris) |
| 5. | 2404 11 00 | Products containing tobacco or reconstituted tobacco and intended for inhalation without combustion |
| 6. | 2404 19 00 | Products containing tobacco or nicotine substitutes and intended for inhalation without combustion |
] 1
1 Inserted vide notification 20/2025-CT dated 31.12.2025. Effective from 1.1.26
[The amount of applicable tax referred to in sub-rule (1) shall be determined in the following manner, namely: —
Tax amount = (Retail sale price X tax rate in % of applicable taxes) / (100+ sum of applicable tax rate).
Explanation. — For the purposes of this rule, —
(a) “applicable tax” means IGST or CGST or SGST or UTGST as the case may be.
(b) “retail sale price” means the maximum price declared on goods at which such goods in packaged form may be sold to the ultimate consumer and includes all taxes, duties, surcharge or cess by whatever name called;
(c) where on the package of any specified goods more than one retail sale price is declared, the maximum of such retail sale price shall be deemed to be the retail sale price;
(d) where the retail sale price declared on packages of any specified goods is altered to increase the retail sale price at any stage before, during, or after the supply, such altered retail sale price shall be deemed to be the retail sale price;
(e) where different retail sale prices are declared on different packages for the sale of any specified goods above in packaged form in different areas, each such retail sale price shall be the retail sale price for the purposes of valuation of the specified goods intended to be sold in the area to which the retail sale price relates ] 1
1 Inserted vide notification 20/2025-CT dated 31.12.2025. Effective from 1.1.26.