I have a retail shop and i purchased one goods in the month of June paying VAT @ 5%. Now the GST for the same is 18%. How I will bear the new cost. In detail: Cost of good Rs.100 (VAT paid at the time of purchase @ 5%) MRP Rs.105 Under GST Since MRP is Rs.105 which is inclusive of GST @ 18%, which I want to remit to the Govt. Hence, it will be a loss to me around Rs.13. How I will charge price for my products without loosing ? Thanks in advance.
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How the retail price will refixed in the gst regime
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| Originally posted by : REJIN K | ||
 |
I have a retail shop and i purchased one goods in the month of June paying VAT @ 5%. Now the GST for the same is 18%. How I will bear the new cost. In detail: Cost of good Rs.100 (VAT paid at the time of purchase @ 5%) MRP Rs.105 Under GST Since MRP is Rs.105 which is inclusive of GST @ 18%, which I want to remit to the Govt. Hence, it will be a loss to me around Rs.13. How I will charge price for my products without loosing ? Thanks in advance. |  |
For eg: Britannia buiscuit purchased by the retailer in June for Rs. 19 (MRP Rs.20) has to sell for Rs. 20 in July by paying 18% GST to Govt. It will be a loss for the retailer. Whether my understanding is correct. Or how could the retailer charge price?
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