In this Act, unless the context otherwise requires, -

(25) "sale price" means the amount of valuable consideration paid or payable to a dealer for any sale made including any sum charged for anything done by the seller in respect of the goods at the time of or before delivery thereof, other than the cost of insurance for transit or of installation, when such cost is separately charged.

Explanation I. -The amount of duties levied or leviable on goods under the Central Excise Act, 1944 (I of 1944) or the Customs Act, 1962 (52 of 1962) or the Bombay Prohibition Act, 1949 (Bom XXV of 1949), shall be deemed to be part of the sale price of such goods, whether such duties are paid or payable by or on behalf of the seller or the purchaser or any other person.

Explanation- IA.-(Omitted w.e.f. 01-07-2017).

Explanation II. - Sale price shall not include tax paid or payable to a seller in respect of such sale.

Explanation III. - Sale price shall include the amount received by the seller by way of deposit, whether refundable or not, which has been received whether by way of a separate agreement or not, in connection with or incidental or ancillary to, the said sale of goods;

Explanation IV.- Omitted w.e.f 1st July, 2007 by Ordinance No.V