https://www.taxtmi.com/caselaws?id=163223 Under the Kerala Value Added Tax Act, 2003, only a discount shown separately in the tax invoice as a contemporaneous price reduction is deductible from turnover; later credit notes do not qualify as such discount and do not justify reducing the purchaser's input tax credit. The Commissioner's circular requiring supplier declarations before granting full input tax credit was upheld as a valid administrative safeguard because it was consistent with the statute and designed to ensure that the same credit-note amounts were not claimed as deductions again. The result is that full input tax credit remains available on the purchase bills, subject to production of the prescribed supplier declarations within time. en-us Wed, 02 Apr 2008 00:00:00 +0530 Tue, 09 Dec 2014 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163223 Under the Kerala Value Added Tax Act, 2003, only a discount shown separately in the tax invoice as a contemporaneous price reduction is deductible from turnover; later credit notes do not qualify as such discount and do not justify reducing the purchaser's input tax credit. The Commissioner's circular requiring supplier declarations before granting full input tax credit was upheld as a valid administrative safeguard because it was consistent with the statute and designed to ensure that the same credit-note amounts were not claimed as deductions again. The result is that full input tax credit remains available on the purchase bills, subject to production of the prescribed supplier declarations within time. Case-Laws VAT and Sales Tax Wed, 02 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163223