Gst query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2017
I want to ask very basic question of GST
If a retailer having T/o > 20 Lac ( he will have to registration in GST).
Now, supose he is selling Goods on which MRP is printed Let say Rs. 50/- (where it is mentined inclusive of all taxes)
He is getting Rs. 50 from Customer.
How he will charge GST on such products? as he can't sell for more than MRP, if he will charge GST price will be more than Rs 50, which is not posssible, as we know.
Will it (GST) 50*12/112 = 5.36 ?? AM i correct or not???
One another Question will he charge CGST and SGST simultaneously i.e. will the rate be 12+12=24%????
Please clarify. Thanks....
If a retailer having T/o > 20 Lac ( he will have to registration in GST).
Now, supose he is selling Goods on which MRP is printed Let say Rs. 50/- (where it is mentined inclusive of all taxes)
He is getting Rs. 50 from Customer.
How he will charge GST on such products? as he can't sell for more than MRP, if he will charge GST price will be more than Rs 50, which is not posssible, as we know.
Will it (GST) 50*12/112 = 5.36 ?? AM i correct or not???
One another Question will he charge CGST and SGST simultaneously i.e. will the rate be 12+12=24%????
Please clarify. Thanks....
16 June 2017
1 5.36 is the right calculation.
2 He will charge CGST and SGST simultaneously i.e. the rate will be 6+6=12%
2 He will charge CGST and SGST simultaneously i.e. the rate will be 6+6=12%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Fixe term employment
- Withdrawal in cash from partners capital account by partner
- Consolidated financials
- Section 50-fixed asset-->building ceases to exist
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Renovation exp. in flat by family member
- Starting trading business
- Need Professional Opinion AY 2012-13 Old Demand
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
Featured
12 September 2026
Assistant Manager - Finance & Compliance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
ARTICLESHIP
16 September 2026
Article Assistant
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
