When was I purchase MRP 1000 +18% from other state ,
and I will shall goods ,how to compose GST on goods
Menu
How to calculate GST Tax
Replies (4)
I think you purchased wrong values. Bcoz, MRP is only end of the value of the goods. Then why you pay extra tax...?
How to charge GST
Normally Charged GST as following...
Purchase:
Ass.Value - 1000 GST value - 180 = 1180.
Add margin 100 (approx) on basic value,
Sales :
Ass. Value - 1100 GST - 198 = 1298......
Purchase:
Ass.Value - 1000 GST value - 180 = 1180.
Add margin 100 (approx) on basic value,
Sales :
Ass. Value - 1100 GST - 198 = 1298......
The price of the product is Rs. 1000 and you paid 18% tax i.e. Rs. 180 on it. So the purchase cost is Rs. 1180 for you.
You will get Rs. 180 as input credit.
Now if you add Rs. 100 as your profit/margin, the product cost becomes Rs. 1100 (1000+100), and you will charge 18% GST from the consumer so the sale price becomes. GST Calculator India for Goods and Services Tax.
Rs. 1100 + 198 (18% of 1100) = Rs. 1298.
Recent Threads
- GSTR 2B ( MULTIPLE MONTHS )
- Eway bill generation for export material.
- International Tax clarification UK.
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
- 194a for A y 2024-25
- Compensation & Benefits
Related Threads
CAclubindia
