TaxTMI 
TaxTMI 
TaxTMI 
MMR on GST Credit note
X X X X Extracts X X X X
X X X X Extracts X X X X
....MR on GST Credit note<br> Query (Issue) Started By: - sandeep rairakhia Dated:- 10-2-2020 Last Reply Date:- 12-2-2020 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>If we create an invoice wi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....th a MMR for a product, and then when taking a credit note if the MMR has changed, which MMR should apply to the credit note? the latest active one or the MMR applied on the invoice. Reply By KASTUR....
X X X X Extracts X X X X
X X X X Extracts X X X X
....I SETHI: The Reply: Pl.expand the abbreviation MMR. Reply By sandeep rairakhia: The Reply: Maximum marginal rate. on the MRP, we add the MMR % + Tax % to get the List price. so if for a product....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... the MMR % is 10% when we create an invoice. on doing sales return credit note, the MMR % is changed to 12%. then in return should it be 10% or 12% Reply By KASTURI SETHI: The Reply: What is name ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of your product and Chapter/Heading/Sub-heading ? Reply By KASTURI SETHI: The Reply: With the implementation of GST the concept of MRP based valuation is no more in force now. Transaction value unde....
X X X X Extracts X X X X
X X X X Extracts X X X X
....r Section 15 of CGST Act is in force. Credit note in respect of sales return is to be issued on 12 % latest. Margin is included in the taxable value while computing tax to be paid. Tax is payable on t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he amount of margin also.<br> Discussion Forum - Knowledge Sharing ....