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Tax Rate in Billing
Explain if a WHOLESALER issue the bill of FOOTWEAR MRP Rs.599 but WHOLESALE price is Rs.418 then define tax rate 5% or 18% ?
Replies (5)
5% Only.. Because You need to Pay GST on Invoice Value and not on MRP. Always You Need to Calculate on Invoice Value... I.e., Supply/Sales Value...
Sir, But all the traders in footwear industry of delhi or agra calculating tax on MRP basis. please suggest the section for this rule. Thank u so much...
Because for footwear and apparel, there is price clause for calculating tax (i.e. for footwear less than 500-5% more than 500-18%) please help.
NO SECTION , BUT THIS IS A GENERAL THING...TAX WILL BE CALCULATED AS PER BILL VALUE.
IF YOU SALE FOR RS. 418
THEN ASSESABLE VAUE = 398/-
CGST - 9.95
SSGST - 9.95
Thanku..
I know the same thing but this thing happening with me when clinets sending me their bills, even the company person is not correcting the bills.
Thanku
I know the same thing but this thing happening with me when clinets sending me their bills, even the company person is not correcting the bills.
Thanku
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