https://www.taxtmi.com/caselaws?id=211087 A trade discount under rule 9(a) of the Kerala General Sales Tax Rules, 1963 is deductible if it is allowed in accordance with regular trade practice and the accounts show that the buyer paid only the net amount. The provision does not require the discount to be shown in the invoice itself, so an invoice-based restriction is too narrow. Discounts granted later through credit notes, including target, annual, special, or turnover discounts, may also qualify as deductible trade discounts when the statutory conditions are met. The contrary view was set aside and the matter remitted for fresh determination without rejecting the claim solely because the discounts were not reflected in the sale invoices. en-us Mon, 27 Feb 2012 00:00:00 +0530 Thu, 01 Sep 2016 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211087 A trade discount under rule 9(a) of the Kerala General Sales Tax Rules, 1963 is deductible if it is allowed in accordance with regular trade practice and the accounts show that the buyer paid only the net amount. The provision does not require the discount to be shown in the invoice itself, so an invoice-based restriction is too narrow. Discounts granted later through credit notes, including target, annual, special, or turnover discounts, may also qualify as deductible trade discounts when the statutory conditions are met. The contrary view was set aside and the matter remitted for fresh determination without rejecting the claim solely because the discounts were not reflected in the sale invoices. Case-Laws VAT and Sales Tax Mon, 27 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211087