Vat on discounted mrp
This query is : Resolved
20 November 2014
If the MRP of a good is RS 60 and it is being sold at Rs 50 what are the implications of VAT?
Does Vat have to be charged from the customer and if yes at 50 or 60?
Kindly answer with reference to DVAT
Does Vat have to be charged from the customer and if yes at 50 or 60?
Kindly answer with reference to DVAT
20 November 2014
VAT is to be charged on the sale value. In the case of MRP, printed on the product,to prove that you have sold the same for otherwise than MRP, vests with you. (Convincing is rather difficult)
22 November 2014
vat will charge on the sale price......
22 November 2014
The burden of proof that you have sold it for a price other than MRP, rests with you.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST ON DAMAGED GOODS
- REGARDING GST LIABILITY/....
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
