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MRP to be used for issuing invoices or not
My query is that whether invoices to be issued on MRP or any price lower than that, say MRP of my product is Rs 50, then can I issue invoice on Rs 30 also that is to say transaction value?
Replies (6)
the concept of MRP is abolished in GST. you can issue invoice as you required.
Are u sure? What is the difference between MRP based valuation and Transaction value?
MRP itself disclosed MAXIMUM RETAIL PRICE and transaction value may be equal to MRP or less then MRP but transaction value can not exceed MRP
as per current GST laws since tax is payble on taxable value (which is either lesser or equal to MRP). is it mandatory to mention MRP on the "invoice"?
As per the law, there is no requirement to mention or to include MRP price in the Tax Invoice. Tax invloice should be prepared on the basis of Transaction Value by following section 15 of cgst act.
As per the law, there is no requirement to mention or to include MRP price in the Tax Invoice. Tax invloice should be prepared on the basis of Transaction Value by following section 15 of cgst act.
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