ABHIJIT MANNA (ACCOUNTANT) (444 Points)
24 August 2018A retailer got input GST from purchaser but when he sold medicine he did not charged GST from customer because it is the billing system of all medicine dealer that they can not charged seperate GST to customer, he is a regular dealer, not composite , so my query is how he show his output GST or what is the rules for medical shop, plese infome me.
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 24 August 2018
I think taking Bill amount as 105% or whatever rate applicable reverse calcultaion shall be done every month which will show the Taxable value and Tax amount
RAJA P M
("Do the Right Thing...!!!")
(127705 Points)
Replied 24 August 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 24 August 2018
If MRP is 118 so shopkeeper sells for 118 now this 118 includes 18 rs of GST
He purchased same medicine for 71 hich includes 18% GST i.e 11 rs
So he can claim ITC as 18-11 got me?
RAJA P M
("Do the Right Thing...!!!")
(127705 Points)
Replied 24 August 2018
| Originally posted by : Ruchika Somani | ||
 |
If MRP is 118 so shopkeeper sells for 118 now this 118 includes 18 rs of GST He purchased same medicine for 71 hich includes 18% GST i.e 11 rs So he can claim ITC as 18-11 got me? |
 |
Yes Dear...
If He is under Regular Scheme... No more restriction.
Note :
The final product value is sealed/Noted in bill as MRP. But, Transactions between Pharma to Whole seller & to Reatilers is also followed normal business transactions...
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 24 August 2018
| Originally posted by : RAJA P M | ||
|
Originally posted by : Ruchika Somani If MRP is 118 so shopkeeper sells for 118 now this 118 includes 18 rs of GST He purchased same medicine for 71 hich includes 18% GST i.e 11 rs So he can claim ITC as 18-11 got me? Yes Dear... If He is under Regular Scheme... No more restriction. Note : The final product value is sealed/Noted in bill as MRP. But, Transactions between Pharma to Whole seller & to Reatilers is also followed normal business transactions... |
|
Ok
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 24 August 2018
RAJA P M
("Do the Right Thing...!!!")
(127705 Points)
Replied 24 August 2018
| Originally posted by : Pankaj Rawat | ||
|
As per GST invoice Rule , a regular dealer cannot raise a Tax Invoice including tax & billing system of medicine dealer cannot overide the GST Rule. | |
Yes Dear Mr. Pankaj Rawat Ji...
But.,
Here I'm not refferred to Including Tax Billings. As per query How to show output tax in his billing...
I refererred as per normal Tax Invoice. But, Tax Value and Taxable values both are included in the MRP Values...
Am I Right...?
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 25 August 2018
RAJA P M
("Do the Right Thing...!!!")
(127705 Points)
Replied 25 August 2018
| Originally posted by : Pankaj Rawat | ||
|
Dear Raja jiI have just replied that the tax invoice cannot be raised including GST, ... 2ndly he cannot charge GST on MRP. | |
Yes Dear...
The MRP will be split Basic + GST.
If MRP is Rs. 118 then Invoice preparabel as follows
Basic Rs. 100
CGST Rs. 9
SGST Rs. 9..
Am I Right Ji...?
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