Hello all ...plz answer if dealer selling goods after discount on me than whether that net amount would be required to charge vat or it would be inclusive of vat?
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VAT is a tax on the actual sale price at which the goods are finally sold. MRP, an acronym for the Maximum Retail Price, is a statutory limit above which an item cannot be sold but can be sold below it. A discount implies a concession being offered on the labelled price. It may be watched however that the total price being charged after including VAT should not exceed the MRP.
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