input credit

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dear sir

I am a trader of photography equipment, my tax slab is 28% on camera and studio light.

I receive 12 to 13% discount on mrp from company, in that items my input credit are 14.5% vat, and I have no input credit on 30.06.17

I resale it to trader. and I sale it on 9 to 10 % discount on mrp.

when I entitle for input credit tax on stock then govt will give me 40-60% credit of CGST.

so kindly help me how to make bill because after GST I will have to make the bill on mrp or above the mrp with 28% GST

illustration

(My Side) Purchase
Mrp 100.00
less margin - 12.00
less vat 14.5%
=76.86 my costing

(trader side) Sale
cost 76.86
add margin 2.32
add gst 28%
=101.34

please help or suggestion me, what should I do.
Replies (2)

Pl refer brochure on ITC:

https://www.cbec.gov.in/resources//htdocs-cbec/gst/input-tax-credit-mechanism-onlineversion-07june2017.pdf

 

sir ,
my question is can I make the invoice beyond the mrp because my margin is too low and I have not excise bill.

I have send the illustration in my messgae at the end of first message.


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