Approval of Price Lists - Deduction of equalised Sales Tax, etc. - Instructions regarding

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..... venue) Central Board of Excise Customs, New Delhi Subject : Approval of Price Lists - Deduction of equalised Sales Tax, etc. - Instructions regarding. I am directed to say that representations have been received from the trade regarding approval of price lists indicating the maximum retail prices in the light of Notification No. 511 dated 25-5-1990 issued by the Ministry of Civil Su .....

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..... ome up with a request to the Ministry to devise suitable procedure for approving the assessable values from the maximum retail prices inclusive of all taxes that may be indicated in the price lists. 3. The matter has been examined by the Board. As per Section 4(4) (d) (ii) of the Central Excises Salt Act, 1944, 'value' in relation to any excisable goods does not include the amount of the duty .....

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..... are substantiated, from time to time, on the basis of information available in records regarding the actual amounts paid as taxes, octroi, etc. As long as the assessable values claimed are correct and are not manipulated in order to avoid duty, it is felt that the assessing authorities may allow deductions on account of sales tax, octroi etc. on equalised basis. Any practical difficulties encounte .....

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