https://www.taxtmi.com/caselaws?id=189713 Sales tax under the KVAT regime is chargeable only on taxable turnover after admissible deductions, including discount, and the assessing authority must verify the invoices and related records before rejecting such claims. A higher stock transfer value, by itself, cannot be taxed as turnover unless suppression of sales or other unrecorded collections is established through factual verification of documents such as invoices, transport papers, costing details, and any collections under other heads. The assessment was set aside and the matter remitted for reconsideration after record verification and opportunity to explain the valuation basis. en-us Fri, 24 Feb 2012 00:00:00 +0530 Wed, 18 Jan 2017 11:42:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189713 Sales tax under the KVAT regime is chargeable only on taxable turnover after admissible deductions, including discount, and the assessing authority must verify the invoices and related records before rejecting such claims. A higher stock transfer value, by itself, cannot be taxed as turnover unless suppression of sales or other unrecorded collections is established through factual verification of documents such as invoices, transport papers, costing details, and any collections under other heads. The assessment was set aside and the matter remitted for reconsideration after record verification and opportunity to explain the valuation basis. Case-Laws VAT and Sales Tax Fri, 24 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189713