Section 2(xxxviA) in The Kerala Value Added Tax Act, 2003
(xxxviA)" Prevailing market price" means the wholesale price of any goods in force in the market as published by the Economics and Statistics Department of the State or any other authorised agency or in the news paper and in cases where no such published whole sale price is available, the price at which goods of the kind or quality is sold by the Kerala State Civil Supplies Corporation or any other similar agency on the date of sale of such goods.
