A person running grocery shop and dealings with finished product. If his turnover exceeds 20 lakh then he required to registered.
1.should he collect gst on MRP??
2.what happens if not collected??
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GST on MRP
Replies (2)
MRP is inclusive of all taxes including GST. It must be noted that retailers cannot charge GST over and above the MRP. GST is already included in the MRP printed on the product.
Composition scheme is suitable for Grocery store business.
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