Publish: 11 Oct 2021, 01:39 pm
From now on, sellers have to write the price of the product
by including value-added tax (VAT) in the list of products sold. VAT cannot be
deducted from the customer at the time of payment by simply adding the price of
At the same time, sales outlets like EFD should be printed in the sales center. The VAT department of the National Board of Revenue (NBR) has recently issued an order fixing the price of goods or services for the customer, including VAT money.
The order, signed by Kazi Farid Uddin, first secretary (VAT policy) of the National Board of Revenue, on October 4, said that if the receipt contains details of goods or services, quantity and VAT and supplementary duty, the price should be displayed in Bangladeshi currency.
Explaining the matter, an NBR official said that the price of the product should be written first along with VAT in the price tag of the product. At the same time the price of the product, the amount of VAT and if the supplementary duty is applicable should be written separately.
Consumers also buy food and clothing as well as products online. Meals include 10 per cent VAT on food in AC restaurants or fast food and 6 per cent VAT on non-AC restaurants. If you buy clothes from a reputed showroom, you have to pay 6 and a half percent VAT. If you buy products online, 5 percent VAT will be levied. From now on, customers will have to pay the price by adding VAT to these businesses.
The order further said that from now on, sales invoices like EFD should be printed and no invoice other than similar invoices such as so-called settlement or draft invoice can be issued.
At the same time, this matter will be added to the 6th clause (c) of paragraph 2 of the order issued on 23rd June, 2019. The subject matter is - details of the goods or services supplied, quantity, unit price (including VAT and supplementary duty where applicable), total value (including VAT and supplementary duty where applicable) and rates and amount of VAT and supplementary duty where applicable. The price will be displayed in Bangladeshi Taka.