https://www.taxtmi.com/caselaws?id=162612 A reduced sale consideration supported by a credit note was not part of taxable turnover because the amount was neither payable nor received as sale consideration and the matter was not one of returned goods; exclusion from turnover was therefore warranted. By contrast, deduction for goods returned was unavailable where the goods were delivered and returned after the statutory six-month period, since the return condition was not satisfied. The legal position stated is that credit-note reductions may fall outside turnover in a non-return scenario, while deductions for returned goods depend strictly on compliance with the prescribed time limit. en-us Thu, 19 Apr 2007 00:00:00 +0530 Tue, 11 Mar 2014 14:28:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162612 A reduced sale consideration supported by a credit note was not part of taxable turnover because the amount was neither payable nor received as sale consideration and the matter was not one of returned goods; exclusion from turnover was therefore warranted. By contrast, deduction for goods returned was unavailable where the goods were delivered and returned after the statutory six-month period, since the return condition was not satisfied. The legal position stated is that credit-note reductions may fall outside turnover in a non-return scenario, while deductions for returned goods depend strictly on compliance with the prescribed time limit. Case-Laws VAT and Sales Tax Thu, 19 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162612