MRP based item in GST

[venkat eswaran]

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

AI Summary

MRP-based valuation is not recognised under GST; tax is assessed on the transaction value and MRP remains a labeling requirement.
Under GST, MRP-based valuation is not provided for and tax is to be assessed on the transaction value of supply; MRP labeling remains a separate Legal Metrology compliance requirement and does not determine GST valuation.