https://www.taxtmi.com/caselaws?id=150963 The Kerala High Court ruled that trade discounts should be considered in determining the sale price for tax purposes, distinguishing them from cash discounts. Following the Orissa High Court's reasoning, the court held that when a trade discount is genuinely granted, the consideration for the sale is the amount paid after deducting the trade discount from the quoted price. This decision clarifies the treatment of trade commission in turnover calculations, emphasizing the distinct nature of trade discounts. The court dismissed the tax revision case, with each party bearing their costs. en-us Fri, 24 Oct 1975 00:00:00 +0530 Sat, 25 May 2013 12:10:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150963 The Kerala High Court ruled that trade discounts should be considered in determining the sale price for tax purposes, distinguishing them from cash discounts. Following the Orissa High Court's reasoning, the court held that when a trade discount is genuinely granted, the consideration for the sale is the amount paid after deducting the trade discount from the quoted price. This decision clarifies the treatment of trade commission in turnover calculations, emphasizing the distinct nature of trade discounts. The court dismissed the tax revision case, with each party bearing their costs. Case-Laws VAT and Sales Tax Fri, 24 Oct 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150963