My friend has bought Television and Fridge from a shop in Bangalore . They have charged VAT at the rate of 14% on the bill. But they have not mentioned as VAT, but simply added the amount (14%) without mentioning anything in the Bill and when he enquired they told that it is 14% VAT.
Dear experts kindly let me know whether the amount charged by them as VAT is the correct percentage ?
05 July 2011
If they are charging VAT then the same should be seperately mentioned as VAT - 14% and also pls check whether they have given the TIN number in the invoice. If not then u can question them...
CAclubindia
