Desk Report
Published: 11 Oct 2021, 01:39 pm
NBR logo || Photo: Collected
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
the product.
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.