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GST rate on footwear as per amendment vide. Not. No. 24/2018 central tax (rate).
As per the above notification, now the thresholds for rate of GST shall be based on sales value i.e. transaction value instead of MRP. Now the question arises that what rate shall I use in order to get the TV from my MRP which is inclusive of taxes.
Replies (1)
The amount at which you sell will be gross value i.e inclusive of tax so taxable value will be the criteria to determine rate of tax of footwear at 5% or 18%
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