A manufacturer is producing goods which have MRP of 150 and cost of the product is 75.
on which amount GST will be paid.
I THINK IT'S ON MRP RATE
Manoj Kumar Gupta (11 Points)
14 June 2017
Shalini Chawla
(Intern)
(24 Points)
Replied 14 June 2017
Pranoti Shah
(CA Job)
(61 Points)
Replied 14 June 2017
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.
Manoj Kumar Gupta
(11 Points)
Replied 14 June 2017
Pranoti Shah
(CA Job)
(61 Points)
Replied 14 June 2017
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.
Manoj Kumar Gupta
(11 Points)
Replied 14 June 2017
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