VAT on MRP.

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..... ther States by way of Interstate transfer/purchase or by way of import are paying tax at the prescribed rate on the MRP. On subsequent resale of such goods, the dealers involved in the chain i.e. wholesalers, sub-wholesalers and retailers are neither paying tax on such subsequent sale nor claiming input tax paid at the time of purchase. With introduction of GST, all the sale transactions will be s .....

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..... s will be in a position to liquidate the stock on which VAT was paid on MRP before introduction of GST. For the remaining stock, the dealers will have input tax credit. Members of the Association have agreed to adopt the new process as advised by this Office. It is, therefore, brought to the notice all concerned to follow the advisory issued vide this office letter No. 5091/CT., dated 31.03.201 .....

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