Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
Circular clarifies GST treatment of secondary/post-sale discounts: when suppliers issue financial/commercial credit notes that do not reduce the original transaction value, recipients need not reverse input tax credit as the supplier's tax liability remains unchanged. Post-sale discounts from a manufacturer to a dealer are generally viewed as price reductions between independent sales (manufacturer→dealer; dealer→customer) and are not treated as consideration for inducement of the dealer's supply, unless the manufacturer has a direct agreement with the end customer-then such discounts should be included in overall consideration. Discounts are not consideration for promotional services unless a separate agreement specifies distinct services and consideration.
Circular clarifies GST treatment of secondary/post-sale discounts: when suppliers issue financial/commercial credit notes that do not reduce the original transaction value, recipients need not reverse input tax credit as the supplier's tax liability remains unchanged. Post-sale discounts from a manufacturer to a dealer are generally viewed as price reductions between independent sales (manufacturer→dealer; dealer→customer) and are not treated as consideration for inducement of the dealer's supply, unless the manufacturer has a direct agreement with the end customer-then such discounts should be included in overall consideration. Discounts are not consideration for promotional services unless a separate agreement specifies distinct services and consideration.
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