srlling goods on MRP

MOhit singhal (ca final student) (74 Points)

31 July 2017

I am selling some products on MRP which includes all taxes ?? Should I charge GST on MRP which includes all taxes

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CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 31 July 2017

No sir, MRP is incl of all taxes...

MOhit singhal (ca final student) (74 Points)
Replied 31 July 2017

Then I have to issue bill of supply instead of tax invoice

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 31 July 2017

If you are registerd, you must issue tax invoice.

For MRP products you have to calculate reverse to arrive a t taxable value and GST.

We have also received such bills showing less taxable value , then charge GST, the total will match with MRP.

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