VAT on MRP.

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Full Text of the Document

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....ate 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 subjected to levy of GST and t....