Section 163 - Amendment of Schedule. - Finance Act, 2023

Goods and Services Tax (Compensation to States) Act Amendment of Schedule. 163. In the Schedule to the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017.), (a) in serial number 1, for the entry in column (4) occuring against tariff item 2106 90 20, the entry fifty-one per cent. of retail sale price per unit shall be substituted; (b) in serial number 2, for the entry in column (4) occurring against Chapter 24, the entry Four thousand one hundred and seventy rupees per thousand sticks or two hundred and ninety per cent. ad valorem or a combination thereof, but not exceeding four thousand one hundred and seventy rupees per thousand sticks plus two hundred and ninety per cent. ad valorem or hundred per cent. of retail sale price per unit shall be substituted; (c) the following Explanation shall be inserted at the end, namely: Explanation. For the purposes of this Schedule, (i) retail sale price means the maximum price at which the concerned goods in packaged form may be sold to the ultimate consumer and includes all taxes, local or otherwise, freight, transport charges, commission payable to dealers, and all charges towards advertisement, delivery, packing, forwarding and the like and the price is the sole consideration for such sale: Provided that where the provisions of the Legal Metrology Act, 2009 (1 of 2010.) or the rules made thereunder or any other law for the time being in force require to declare on the package, the retail sale price excluding any taxes, local or otherwise, the retail sale price shall be construed accordingly; (ii) where on the package of any concerned 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; (iii) where the retail sale price, declared on the package of any concerned goods at the time of its clearance from the place of manufacture, is altered to increase the retail sale price, such altered retail sale price shall be deemed to be the retail sale price; (iv) where different retail sale prices are declared on different packages for the sale of any concerned goods in packaged form in different areas, each such retail sale price shall be the retail sale prices for the purposes of determination of the rate of cess for the said goods intended to be sold in the area to which the retail sale price relates.'.