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Issue ID : 111659
- 0 -

MRP based item in GST

Date 20 Mar 2017
Replies5 Answers
Views 12190 Views
Asked By

DEar all,

our is a MRP based valuation in Central excsie pmt after rebate of some % on MRP we paying excise duty. In GST how this is to be treated. Whether the same MRP based valuaiton is continued in GST also?

Kindly share your views on this

Thanks in advance

Venkat

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- 0
Replied on Mar 20, 2017
1.

This has not been dealt with by model laws.

- 0
Replied on Mar 20, 2017
2.

Sir,

There is no provision of MRP Valuations under GST

- 0
Replied on Mar 20, 2017
3.

MRP Provisions have not be mentioned in the Model GST Law meaning that there would be not need to pay the GST on MRP printed on goods intended for sale. However, mentioning of MRP would be mandatory under LM(PC) Rules, 2011 as amended by Rules, 2015.

- 0
Replied on Mar 21, 2017
4.

Under the GST, the valuation is based on the transaction value and the concept of MRP based valuation do not exist. However, MRP needs to be affixed to satisfy the conditions of LM Act and its Rules.

Regards

S.Ramaswamy

- 0
Replied on Mar 23, 2017
5.

Under GST, MRP concept is not mentioned. Tax will be on transactional value. Thanks.

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