purchase MRP rpdocut from URD then GST is applicable

[jayesh thacker]

I purchase some MRP Product like weffer, biscuits from URD, in this case rcm is applicable and gst exempt or payable

AI Summary

GST on Purchases from Unregistered Dealers: Reverse Charge Mechanism Applies for Turnover Above 20 Lakhs, Exemption Up to 5000 Daily A discussion on the applicability of Goods and Services Tax (GST) on purchases from unregistered dealers (URD) highlights that if a buyer's turnover exceeds 20 lakhs, GST must be paid under the reverse charge mechanism (RCM). Section 9(4) of the Central Goods and Services Tax Act, 2017 mandates that registered persons pay tax on goods bought from unregistered suppliers. Additionally, there is an exemption for purchases up to 5000 per day from all URDs. The concept of Maximum Retail Price (MRP) is not applicable under GST but is required under the Legal Metrology Act.