In composite scheme 1%tax should be paid by retailer. 1)On mrp basis . 2)IF AN ITEM HAVE MRP 150.00 BUT IN RETAIL I BUY IN 25.00 RUPEES AND SELL THE ITEM ON 60.00RUPEES THEN I PAY THE TAX ON 150.00 MRP OR 60.00RUPEES WHICH I SELL THE ITEM.
Now the concept of MRP , is not relevant - you pay CGST 0.5 CGST and 0.5 SGST - total 1 GST on your transaction value . - selling price - if anybody subsequently sells at Rs 150 , then they pay