https://www.taxtmi.com/caselaws?id=190771 Amounts received by a dealer from suppliers after sale, where the goods were sold below purchase price and the payments later made good the trading loss, are treated as turnover under the deeming provision in Explanation VII to Section 2(ii) of the Kerala Value Added Tax Act unless the dealer proves a different character for the receipt. Post-sale reimbursements of this kind are conceptually distinct from cash discount or trade discount, because those discounts are part of the purchase structure at the time of transaction. On the facts noted, the later supplier payments were not deductible as discount and were brought within taxable turnover. en-us Wed, 26 Oct 2016 00:00:00 +0530 Fri, 23 Mar 2018 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190771 Amounts received by a dealer from suppliers after sale, where the goods were sold below purchase price and the payments later made good the trading loss, are treated as turnover under the deeming provision in Explanation VII to Section 2(ii) of the Kerala Value Added Tax Act unless the dealer proves a different character for the receipt. Post-sale reimbursements of this kind are conceptually distinct from cash discount or trade discount, because those discounts are part of the purchase structure at the time of transaction. On the facts noted, the later supplier payments were not deductible as discount and were brought within taxable turnover. Case-Laws VAT and Sales Tax Wed, 26 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190771