I wanted to know that we receive materials from CFA at say 15% on MRP now what happens is we distribute same at 27% on MRP so cost price is greater than selling price the loss what happens between CP & SP that company reimburse along with our margin I wanted to know is there any problem with the department regarding the billing more
Johar ji & other members, My understanding with the version of Johar ji is that you get material from CFA and CFA allows you 15% of MRP as your selling margin. With this my explanations are, 1] Your cost price is 85% of MRP. This CP will include IGST already paid by the manufacturer. 2] Your selling price can not exceed MRP. 3] You as a seller need to know the base price of manufacturer and IGST paid by the manufacturer. 4] Seller will recover Manufacturers Base Price+IGST paid by Manufcturer+CFA Cost+Seller's margin from the Purchaser and this total should not exceed MRP. 5] If the Seller recovers GST from the Purchaser higher than the IGST paid by the Manufacturer, Sellers tend to get higher collection for the government and that to me will be an unfair trade practice although Seller has kept 15% as its margin and has not charged the Purchaser more than MRP. 6] There is no possibility when the Selling Price becomes less than the Cost Price. 6] What is the remedy for all that for being fair in trade practice. Transparency in the practices and CFA must declare the base price of manufacturer and IGST booked by Manufacturer. more
we have a small manufacturing unit. we are not in excise. however we buy excised material. no body is sure how much credit we can take from excised bills. can anybody help us more
How such a transaction is possible in a business in a routine manner or regularly. Input tax is more than output tax and then you are being compensated for the loss. It could be possible in isolation but not a regular business. It would all be suspicious in my view. more
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By Sunita Varghese
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