Not necessarily
No....
He calculate the tax amount includes rate from the MRP.....
If MRP is 100 and Tax Rate is 18%. Then he calculate Rs. 84.75 x 18% = 15.25.... Tax Value is 15.25
Traders also collect tax his sales for the MRP related products... MRP products also include the tax amounts.
Naveen Fintech Pvt Ltd
Kolkata
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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