WebGST paid by B for purchase = 18% of 4800 = Rs. 864 ….(ii) B sells T.V. at discount of 10% of market Price. Selling price for B = 6000 - 10% of 6000 = Rs. 5400 …(iii) GST charged by B on selling of T.V. = 18% of 5400 = Rs. 972 …(iv) GST paid by B to the government = GST charged on selling price - GST paid against purchase price = 972 - 864 WebApr 12, 2024 · 1. Original MRP should be displayed clearly on the product and the revised MRP should not be overwritten on the original MRP. 2. New MRP will be the exact sum of the old MRP and the tax change and not more. For example, if the old price was Rs 100 and the tax increase due to GST is Rs 10, the new MRP should be rs 110. 3.
unfair trade practices - Tax Guru
WebJul 18, 2024 · According to the Provision of Section 15(1) of the CGST Act 2024, GST is levied on the "TRANSACTION VALUE" of the Supply of Goods or Services or both. By … WebMRP = Rs 12,000, Discount % = 30%, GST = 18% Now, So, Selling price (discounted value) = 12000 - 3600 = Rs 8400 CGST = 9% of 8400 = Rs 756 SGST = 9% of 8400 = Rs 756 IGST = 0 Thus, the amount of bill = Selling price + CGST + SGST = 8400 + 756 + 756 = Rs 9912 2. For the following transaction from Delhi to Jaipur, fill in the blanks to find the ... thule roof rack systems
Firstcry charging GST on discounted MRP – India Consumer Forum
WebApr 22, 2024 · 1. Value for purpose of Customs Act. 1.1 Valuation for CVD when goods are under MRP provisions upto 30-6-2024. 1.2 Valuation has to be on the basis of condition at the time of import. 1.3 Sale to related person. 2. Transaction value at the time and place of importation. 2.1 Price must be the sole consideration. 2.2 Price in case of high sea sale. WebApr 12, 2024 · Maximum Retail Price (MRP) under GST. Maximum retail price (MRP) is a manufacturer calculated price that is the highest price that can be charged for a product … WebApr 12, 2024 · Along with the GST rates, the Government also revised the MRP rules for the manufacturers and retailers. MRP rules after changes in GST rate and implementation in GST Whenever GST rate changes, the … thule roof rack tent