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Why gst charged on mrp
Hi Team,
I am a online seller which sold units through flipkart. I have received a email by flipkart and they was told :
Let us consider that the MRP of a shoe is Rs. 700 and the selling price is Rs. 400, then the tax slab will be 18% (MRP above 500).
if the MRP of the shoe is 499 and the selling price is Rs. 400. Then, tax slab will be 5% (MRP< 500).
Team, I want to ask you that statement is right or wrong ?
Replies (2)
Indirect tax is always calculated on Selling price before giving Discount. To give discount is your choice but tax that needed to be collected will be on actual Selling price. And your is absolutely correct.
*Your above statement
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