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Composition scheme on sale of MRP products, Goods and Services Tax - GST |
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Composition scheme on sale of MRP products |
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Dear Sir/Mam, My query is when a medical shop owner who is registered under composition scheme is selling medicines (all are B2Cs only), then whether a) He can charge MRP straight away and pay 1% GST on such MRP or; b) reduce the deemed taxes from MRP and then pay 1% GST on the net amount which is arrived after reducing the deemed taxes. This is because as MRP products are deemed to be inclusive of taxes and a composition dealer is not eligible to collect taxes. Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
As a composition trader, you need to pay !% tax out of your pocket on the value of supply of goods, irrespective of MRP concept, subject to the threshold limit prescribed. Page: 1 |
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