CMA Final · Indirect Tax Laws and Practice · Valuation under GST
Which of the following goods is NOT among those covered by Rule 31D (valuation on retail sale price basis) in the table of the rule?
Packaged biscuits sold at an MRP are not covered. Rule 31D applies only to goods listed in its table, such as pan masala, tobacco products and cigarettes, and biscuits do not appear there.
- APan masala
- BCigars, cheroots, cigarillos and cigarettes
- CProducts containing tobacco intended for inhalation without combustion
- DPackaged biscuits sold at an MRPCorrect
Explanation
The Rule 31D table lists pan masala, unmanufactured tobacco, cigars and cigarettes, other manufactured tobacco and products intended for inhalation without combustion. Packaged biscuits are not listed, so the rule does not apply to them.
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