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The West Bengal Sales Tax Rules, 1995
Chapter VIII : Contractual transfer price of goods exempt from tax on works contract ; determination of the tax payable under section 21 and claim for payment of tax at lower rate

70. Deduction for determination of contractual transfer price

A dealer liable to pay tax under section 15, while determining his contractual transfer price, in relation to any period, shall not include in such contractual transfer price that portion of the aggregate of the amount received or receivable by him which exceeds the aggregate of -

    (i) the value of the goods purchased, manufactured, processed or procured otherwise by him and used by him in the execution of works contract, and

    (ii) the cost of freight and delivery for carrying such goods to the place where such goods are used in such execution.