Product price to include VAT: NBR
Price of products should be written in the price tag including VAT
Prices of products must include the value added tax (VAT) and not shown additionally at the time of payment.
The VAT department of the National Board of Revenue (NBR) has recently issued an order in this regard to help the customers know how much they are paying for a product or service.
The order states that the receipt has to contain details of goods or services, quantity, VAT, supplementary duty (if applicable), and the price should be written in Bangladeshi currency.
Keep updated, follow The Business Standard's Google news channel
An official of the NBR explained, the price of the product should be written in the price tag including VAT. The price of the product, VAT and supplementary duty (if applicable) should be written separately.
For example, the food list in most restaurants and fast food shops does not list the prices with VAT included. In most cases, VAT is written on the food list individually. If the price of a food item is Tk100, a 10% VAT is written additionally— meaning the consumer pays Tk110 for the item. According to the NBR instruction, from now on, the list of food items should be presented to the consumer with the added VAT to the price, so that the customer understands how much they are paying.
Meals include 10% VAT in AC restaurants or fast-food shops and 7% VAT in non-AC restaurants. A 7.5% VAT on clothes is applicable for big showrooms while 5% VAT is added for online shopping.
