TaxTMI 
TaxTMI 
MRP based item in GST
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....RP based item in GST<br> Query (Issue) Started By: - venkat eswaran Dated:- 20-3-2017 Last Reply Date:- 23-3-2017 Central Excise<br>Got 5 Replies<br>Central Excise<br>DEar all, our is a MRP based val....
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....uation 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 vi....
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....ews on this Thanks in advance Venkat Reply By MARIAPPAN GOVINDARAJAN: The Reply: This has not been dealt with by model laws. Reply By MANISH SINHA: The Reply: Sir, There is no provision of MRP....
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.... Valuations under GST Reply By YAGAY AND SUN: The Reply: 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 intende....
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....d for sale. However, mentioning of MRP would be mandatory under LM(PC) Rules, 2011 as amended by Rules, 2015. Reply By Ramaswamy S: The Reply: Under the GST, the valuation is based on the transactio....
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....n 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 Reply By Ganeshan Kalyani: The R....
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....eply: Under GST, MRP concept is not mentioned. Tax will be on transactional value. Thanks.<br> Discussion Forum - Knowledge Sharing ....