https://www.taxtmi.com/caselaws?id=148583 Trade discount paid to customers was treated as a permissible deduction in computing taxable turnover under the Central Sales Tax Act, 1956. The Court read the statutory definitions of turnover and sale price with the State deduction provisions applied through the Central Act scheme, and held that deductions allowed under State law for determining net turnover also apply when computing turnover under the Central Act. It distinguished trade discount from cash discount, but accepted the discount in question as deductible for taxable turnover purposes. en-us Tue, 23 Jul 1968 00:00:00 +0530 Tue, 30 Apr 2013 15:56:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=148583 Trade discount paid to customers was treated as a permissible deduction in computing taxable turnover under the Central Sales Tax Act, 1956. The Court read the statutory definitions of turnover and sale price with the State deduction provisions applied through the Central Act scheme, and held that deductions allowed under State law for determining net turnover also apply when computing turnover under the Central Act. It distinguished trade discount from cash discount, but accepted the discount in question as deductible for taxable turnover purposes. Case-Laws VAT and Sales Tax Tue, 23 Jul 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=148583