Hi,
if a trader (B to C) is holding certain goods which is at MRP inclusive of taxes (vat) how will the gst be calculated on such sale of good after the authorized date (implication of GST).
Thank You
There is no MRP concept based taxation in GST.
Evey registered person who is making outward supplies need to charge tax on value of supply, irrespective of MRP of product.
In certain cases like readymade garment, tax rate is decided based on selling price. But ultimately tax needs to be charged on value of supply.
what about the existing stock with MRP inclusive of old rate of tax
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