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.
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