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TMI BlogGST - CompositionX X X X Extracts X X X X X X X X Extracts X X X X ..... A Composition dealer sells goods at MRP which is inclusive of taxes. Does it mean he is collecting GST which is prohibited under GST Act. - Reply By KASTURI SETHI - The Reply = Yes. As per definition of MRP, all kinds of taxes are subsumed in this price. - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = Yes. it is inclusive of GST also. As per the requirements of GST inclusive tax concept ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... should not be adopted. All taxes are explicitly to be noted. - Reply By Alkesh Jani - The Reply = Sir, In this regards, The goods received by a composition dealer of certain value (Dealer Price) Plus GST and MRP is printed on the goods. As composition dealer cannot avail ITC, the value (DP) plus GST is the cost price of the composition dealer and He sells the goods at MRP and shall pay GST on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this turnover. In aforesaid premises, nowhere, it can be said that GST is collected by the composition dealer. Our experts may like to correct me if mistaken. Thanks - Reply By YAGAY andSUN - The Reply = In GST MRP is not recognised to pay or collect taxes. - Reply By Himansu Sekhar - The Reply = In gst transaction value decoder the tax. Mrp is not a concept here. - Reply By Ganeshan Kaly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ani - The Reply = When the composition person arrives at the sale value it includes the cost of product and incidental expenses and profit component. He is not supposed to collect tax. He is to pay tax on his turnover. However, practically businessman will collect tax on the transaction value which will be disclosed on the selling price but hidden. - GST - Composition - Query Started By: - Eth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irajan Parthasarathy Dated:- 27-7-2018 Goods and Services Tax - GST - Got 6 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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