The gross sale value of the products as charged from the customers will be reported here. It includes excise duty paid or sales tax realized by the factory on behalf of the Government as also all distributive expenses incurred such as (i) discount or rebate, allowances for returnable cases or other packing and any other drawback allowed to customers, (ii) charges for carriage, outward, and (iii) commission to selling agents.
It should be noted that in case of factories where net sale value is available, the gross sale value should be arrived at by adding excise duty, etc. Further the subsidy received, if any, from Government should also be included while reporting gross sale value. In case gross sale value is not available, net sale value may be reported with a foot note. However, adjustments of accounts pertaining to earlier year shown in the profit and loss accounts of the year should not be taken into account.
Where part of the product of factory is exported at a loss, for convenience of calculation, calculate the sale value entirely on the basis of domestic pricing, ignoring loss on exports, cash subsidy received in the year, and profits made from sale of import entitlements or actual sale of mill stores, raw materials and machinery imported. Where a factory puts all its products in the foreign market for sale, calculate the same value on the basis of value received from exports, together with the subsidy received, if any. For the products meant entirely for the domestic market and subsidy received from the Government, the same treatment will be given.