https://www.taxtmi.com/caselaws?id=336315 Quantity discount allowed as a trade discount under the KVAT framework is treated as a sale for statutory purposes, but it does not automatically form part of the dealer's turnover merely because it is deemed a sale. The Commissioner's clarificatory circular, read with its illustration, was said to confine turnover to the consideration actually received and to bind the assessing officer. On that reasoning, inclusion of the quantity discount in turnover was unsustainable, and the assessment orders rejecting the circular could not stand. en-us Fri, 25 Nov 2016 00:00:00 +0530 Tue, 20 Dec 2016 07:03:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336315 Quantity discount allowed as a trade discount under the KVAT framework is treated as a sale for statutory purposes, but it does not automatically form part of the dealer's turnover merely because it is deemed a sale. The Commissioner's clarificatory circular, read with its illustration, was said to confine turnover to the consideration actually received and to bind the assessing officer. On that reasoning, inclusion of the quantity discount in turnover was unsustainable, and the assessment orders rejecting the circular could not stand. Case-Laws VAT and Sales Tax Fri, 25 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336315