A manufacturer is producing goods which have MRP of 150 and cost of the product is 75.
on which amount GST will be paid.
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VALUE OF GST CHANGING
Replies (7)
I THINK IT'S ON MRP RATE
Gst is normally paid on MRP but in cases where discounts are being offered , gst may be applied on transaction value.
GST is payable on the value of a supply of goods i.e. the transaction value, which is the price actually paid or payable for the said supply of goods. In this case , it would be net sale price payable by the recipient of goods.
if on the first stage of movement of goods GST is paid in MRP then how next step dealer will pay GST on value addition?
I think you are confusing MRP with sale price of first stage dealer. As i said earlier, GST is payable on transaction value, which is the price actually paid or payable for the said supply of goods. Hence it is paid on sale price of every dealer.
clarify one
ON MRP means maximum retail price of a particular good and Sale price for next stage dealer mean cost and profit of seller.
for example.
MRP of a good is 100 for consumers and for next stage dealer sale price is 70 then on which amount GST is payble.
ON MRP means maximum retail price of a particular good and Sale price for next stage dealer mean cost and profit of seller.
for example.
MRP of a good is 100 for consumers and for next stage dealer sale price is 70 then on which amount GST is payble.
GST is payable on 70
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