A medical shop registared under composition scheme, can sale at MRP?
c4commerce (partner) (25 Points)
16 April 2018A medical shop registared under composition scheme, can sale at MRP?
c4commerce
(partner)
(25 Points)
Replied 16 April 2018
RAJA P M
("Do the Right Thing...!!!")
(128085 Points)
Replied 17 April 2018
Amlani Keval
(16 Points)
Replied 17 April 2018
Sreejith Medicals
(2 Points)
Replied 20 May 2018
Srinivas Kotnala
(Accounts Manager)
(95 Points)
Replied 13 December 2018
As per the GST Composition Scheme Rules & Proviso,
One Can not collect the Extra Tax or GST from the Customer or the Consumer. and he can not take the Input Credit on Purchases as well.
How Ever the Same is not appplicable for MRP Products. If a Super Market Registered Under Composition Scheme and Collecting MRP Price on products is a Valid Practice and its not against the Composition Schemes Priviso.
The Supplier or the Super Market in the Last Example Has to Pay the Tax @ 1% on the Turnover (i.e MRP ) GST of 1 % is an Additional Tax Payable to Goverment.
Yes Its a Double taxation Issue. But 1 % on Total Purchases is a Nominal Amount compared to Normal Tax Rates. Hence Govt Silent about this Cascading Effect.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India