This is about 'The Loot' store in Coimbatore. (R.S.Puram branch)
The store had boards outside the shop stating a discount from 25% to 60%. Seeing the boards I walked in.
I bought a shoe, the MRP of which was Rs. 1599 (inclusive of all taxes ).
The shoe carried a tag stating 40% discount. Assuming the shoe would cost Rs. 960, I gave them my debit card. They swiped it for Rs. 1079. On asking they told I would have to pay 12.5% VAT on the discounted price.
Here is their calculation:
MRP (including tax) 1599
After discount 960
I am not complaining about paying the tax but I want to know if MRP had tax included, why did the discounted price not have the tax included?
My calculation :
I paid 1079
discount percentage = ((1599-1079)/1599) * 100 = 32.5%
They promised a discount of 40% but they actually gave 32.5% discount. They did not do the transaction as promised so it is clear FRAUD.
In my opinion the company should be charged of fraud of doing this everyday to thousands of customers all across India.
They truly live up to their name 'The LOOT'.