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....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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%

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