https://www.taxtmi.com/caselaws?id=165031 Incentive amounts received by a dealer through manufacturer-issued credit notes were held to form part of turnover under Explanation VII to Section 2(lii) of the Kerala Value Added Tax Act, 2003. The provision applied because the goods were sold below the real purchase cost, which included freight and loading and unloading charges, and the credit notes were issued to recoup the shortfall in sale realisation. The receipts were treated as post-sale amounts connected with the sale price, not as mere trade discounts on purchases. The assessee's challenge failed, and the assessment of the credit amounts as taxable turnover was confirmed. en-us Tue, 18 May 2010 00:00:00 +0530 Tue, 07 Oct 2014 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165031 Incentive amounts received by a dealer through manufacturer-issued credit notes were held to form part of turnover under Explanation VII to Section 2(lii) of the Kerala Value Added Tax Act, 2003. The provision applied because the goods were sold below the real purchase cost, which included freight and loading and unloading charges, and the credit notes were issued to recoup the shortfall in sale realisation. The receipts were treated as post-sale amounts connected with the sale price, not as mere trade discounts on purchases. The assessee's challenge failed, and the assessment of the credit amounts as taxable turnover was confirmed. Case-Laws VAT and Sales Tax Tue, 18 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165031