How do you calculate GST on readymade garments?

Readymade garments of sale value not exceeding Rs. 1000 per piece attract 5\% GST. Readymade garments of sale value exceeding Rs. 1000 per piece attract 12\% GST.

How do you charge GST on MRP products?

As the name itself says Maximum Retail Price (MRP) is the maximum price the seller can charge from the buyer. MRP is inclusive of all taxes including GST. It must be noted that retailers cannot charge GST over and above the MRP. GST is already included in the MRP printed on the product.

What is the GST charged on clothes?

12 percent
From January 2022, the GST rate on fabrics will be raised to 12 percent from 5 percent, and the GST rate on garments of any value has been raised to 12 percent, compared to the previous rate of 5 percent on items priced up to Rs 1,000.

Is garments exempted from GST?

LIST OF EXEMPTED GOODS RELATED TO FABRIC & READYMADE GARMENTS. Articles of apparel and clothing accessories, not knitted or crocheted, of sale value not exceeding Rs. 1000 per piece is classified under HSN code 62 and tax rate is 5\%.

Can GST be charged over MRP?

If a retailer charges GST over maximum retail price, a consumer can file a complaint against him. A retailer cannot charge over MRP. However, a retailer can sell at a price lower than MRP.

Which product is not GST applicable?

What goods and services are not covered under the GST? Items that are exempted from GST are live fish, fresh fish, bird’s eggs in the shell, fresh milk, fresh ginger, garlic, grapes, melon, unroasted coffee beans, unprocessed green tea leaves, etc. Corn, rice, wheat, maize, soybean, hulled cereal grains, etc.

What is GST for retailers?

How to Calculate GST for Wholesalers & Retailers

Particulars	Rate(\%)	Amount under GST
Profit	10\%	24,640
Total	–	271,040
VAT (Rs. 306282 x 12.5\%) – (Credit on VAT paid above Rs. 30,938)	12.50\%	Nil
CGST (Rs. 271040 x 6\%) – (Credit on CGST paid above Rs.13,200)	6\%	3,062