Vat to be levied on total price or net price
This query is : Resolved
22 August 2011
One of my client who is in pharma purchases RM from vendor.The vendor levies VAT @ 5% on total price(including excise duty).Whether VAT is to be charged on total price or net price(excluding excise duty)
22 August 2011
VAT is charged on Gross Price i.e (Basic Price + Excise duty)
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