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Revision of MRP
let us suppose if i purchased goods worth Rs 100 on which VAT charged under existing law 12.5% which comes out to be Rs 12.5 and total of which is Rs 112.5 and MRP of the same is Rs 115 now in GST the rate of tax on this particular item is 28% where total cost will be 128 and MRP Rs 115 how i can sell a product above its MRP... Plz clarify
Replies (2)
sir,
you are allowed to take input credit on purchases made with invoices @ 60% on the 28% GST charged ,please recalculate
if your are retailer your selling price is with margin is it correct
I am allowed to take the CCR amounting to 60% of CGST component in GST Here in my example 60% of 14% CGST Component amounting to 8.4% so the effective tax rate will be 28-8.4 = 19.6% which will again increase my product price to 119.6 which is more than MRP
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