https://www.taxtmi.com/caselaws?id=149771 Annuity payments under a sales scheme were treated as deductible discount under the U.P. Sales Tax Act because the exclusion for "cash or other discount on the price" was held broad enough to cover payments made in cash or kind on the sale price, even when calculated on annual purchases rather than each transaction. The dealer's motive and the aggregate, year-end method of computation were held not decisive. The Court also held that the Central Sales Tax Act, 1956 imposes a materially stricter test, allowing only cash discount in accordance with the practice normally prevailing in the trade, meaning the relevant trade practice is that of similar businesses rather than the dealer alone. en-us Wed, 21 Jan 1970 00:00:00 +0530 Fri, 03 May 2013 13:14:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=149771 Annuity payments under a sales scheme were treated as deductible discount under the U.P. Sales Tax Act because the exclusion for "cash or other discount on the price" was held broad enough to cover payments made in cash or kind on the sale price, even when calculated on annual purchases rather than each transaction. The dealer's motive and the aggregate, year-end method of computation were held not decisive. The Court also held that the Central Sales Tax Act, 1956 imposes a materially stricter test, allowing only cash discount in accordance with the practice normally prevailing in the trade, meaning the relevant trade practice is that of similar businesses rather than the dealer alone. Case-Laws VAT and Sales Tax Wed, 21 Jan 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=149771