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return under RCM
every person who sold the goods at MRP i.e inclusive of tax should file his return as tax payable under Reverse charge
Replies (4)
Not necessarily
No....
He calculate the tax amount includes rate from the MRP.....
If MRP is 100 and Tax Rate is 18%. Then he calculate Rs. 84.75 x 18% = 15.25.... Tax Value is 15.25
so he should file as he has collected 84.75 as value and 15.25 as tax from customer ??
Traders also collect tax his sales for the MRP related products... MRP products also include the tax amounts.
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