Bihar Legislature Cannot Levy VAT on MRP; Discounts Must Be Considered Under Legislative Limitations.

Bihar Legislature Cannot Levy VAT on MRP; Discounts Must Be Considered Under Legislative Limitations. https://www.taxtmi.com/highlights?id=24990 Levy of VAT on MRP - deduction of discount - Bihar VAT - The State Legislature not being competent to provide for levy of tax on the first point of sale on the basis of MRP or any other notional value, there could be no question of the legislature providing for the same even by way of exercise of option by the dealer concerned - HC en-us Mon, 28 Sep 2015 17:42:57 +0530 Mon, 28 Sep 2015 17:42:57 +0530 TaxTMI RSS Generator Bihar Legislature Cannot Levy VAT on MRP; Discounts Must Be Considered Under Legislative Limitations. https://www.taxtmi.com/highlights?id=24990 Levy of VAT on MRP - deduction of discount - Bihar VAT - The State Legislature not being competent to provide for levy of tax on the first point of sale on the basis of MRP or any other notional value, there could be no question of the legislature providing for the same even by way of exercise of option by the dealer concerned - HC Highlights VAT and Sales Tax Mon, 28 Sep 2015 17:42:57 +0530 https://www.taxtmi.com/highlights?id=24990