Hi friends, MRP is the price which is inclusive all taxes and local taxes..But my doubt is in many deparmental stores and super markets VAT is chared on MRP. Is it correct ? Does MRP not inclue VAT?
3 Replies
CMA KHUSHAL
(Deputy Manager - F&A)
(85 Points)
Replied 15 July 2010
MRP is maximum retail price inluding all the taxes. Thus charging any other tax on MRP (total price than will cross the MRP price) is not allowable & an offence under the Sales Tax Law.
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 15 July 2010
MRP is inclusive of all taxes. If your bill shows more than the MRP you can claim damage from the dealer through Consumer Forums
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