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TMI BlogMMR on GST Credit noteX X X X Extracts X X X X X X X X Extracts X X X X ..... If we create an invoice with a MMR for a product, and then when taking a credit note if the MMR has changed, which MMR should apply to the credit note? the latest active one or the MMR applied on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... invoice. - Reply By KASTURI SETHI - The Reply = Pl.expand the abbreviation MMR. - Reply By sandeep rairakhia - The Reply = Maximum marginal rate. on the MRP, we add the MMR % + Tax % to get th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e List price. so if for a product the MMR % is 10% when we create an invoice. on doing sales return credit note, the MMR % is changed to 12%. then in return should it be 10% or 12% - Reply By KAS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TURI SETHI - The Reply = What is name of your product and Chapter/Heading/Sub-heading ? - Reply By KASTURI SETHI - The Reply = With the implementation of GST the concept of MRP based valuation is n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o more in force now. Transaction value under Section 15 of CGST Act is in force. Credit note in respect of sales return is to be issued on 12 % latest. Margin is included in the taxable value whil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e computing tax to be paid. Tax is payable on the amount of margin also. - MMR on GST Credit note - Query Started By: - sandeep rairakhia Dated:- 10-2-2020 Goods and Services Tax - GST - Got 4 Repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies - 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 ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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