Hi friends,
Yesterday i saw a bill where the shopkeeper had charged VAT on the MRP of the item purchased (A shirt). Isn't MRP inclusive of VAT too. Just wanted a clarification.
Thank you
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A question on VAT
Replies (4)
look at MRP tag
MRP ....... ( taxes extra), otherwise he can not charge on it
Any vat increased or decreased in TNVAT ?
yes MRP is inclusive of all taxes definitely including VAT. generally in branded products, the dealers gain is the discount they get on MRP. nevertheless, the bill should not exceed the MRP value and MRP is including the VAT.
Bill amount cannot exceed MRP. MRP is inclusive of VAT and other taxes
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