Please suggest
Please refer bill ( as a Example ) attached herewith ( taken from post of Mr RN Chopra in connected consumer )
Cake Price is Rs 350 /-
( Basic price = material with GST + labour + profit 10% )
Haldirams collected GST @ 18% from Consumer i.e Rs 63/-
Thus Consumer has to give Rs 413 /- as a total
Net Rs 413 is collected by Haldirams
Now , Haldiram has to pay GST on his amount collected .
Setback will be taken on already paid GST on material .
Question is
Whether Haldirams has to pay GST @ 18% on Rs 350 /- Or Rs 413 /- ?
If Haldiram is paying @18% GST on Rs 350 /- then he has to pay Rs 63 to Government which he has collected from Consumer .
If Haldiram is paying @18% GST on Rs 413 /- then he has to pay Rs 74.34/- to Government which is more than collected money from consumer ie Rs 11.34/- .
If haldiram has to pay extra Rs 11.34 . So how he will adjust this extra amount ?
please suggest .
This is important considering Rate analysis for fixing commodity prices which requires in all commercial works . more