Is nett price inclusive of vat?

Answer 1

No, Net Amount is the amount before VAT is added. Once VAT is added it then becomes the Gross Amount. Net price is exclusive of VAT

Answer 2

There is a product X. 100 is printed on it, you may call it list price.

Let say the seller gives you a 5% discount on it. So you will get it for 95 (100 - 5%).

This 95 is the net price. On the top of it, if the seller charges you VAT. You'll need to pay 95+VAT.