No VAT will be charged on the hammer price, but VAT at 17.5% will be added to the buyer's premium which is invoiced on a VAT inclusive basis.
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Note: Examples of Kashmir stamps used in Jammu probably result from travellers using up surplus stamps purchased at Srinagar. The above misuse of a 8a. value resulted in a costly mistake for the sender. The cover was incorrectly attributed as bearing a 1a. "cherry red" when offered in the Haverbeck collection