https://www.taxtmi.com/caselaws?id=190771 The court allowed the revision, setting aside the Tribunal's order and confirming the assessment by the Assessing Officer. Discounts received post-purchase were deemed reimbursements for losses incurred due to selling goods below purchase price, thus justifying their inclusion in turnover as per Explanation VII to Section 2(ii) of the Act. The case emphasized the correct interpretation and treatment of such discounts in turnover calculations under the Kerala Value Added Tax Act. 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 The court allowed the revision, setting aside the Tribunal's order and confirming the assessment by the Assessing Officer. Discounts received post-purchase were deemed reimbursements for losses incurred due to selling goods below purchase price, thus justifying their inclusion in turnover as per Explanation VII to Section 2(ii) of the Act. The case emphasized the correct interpretation and treatment of such discounts in turnover calculations under the Kerala Value Added Tax Act. Case-Laws VAT and Sales Tax Wed, 26 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190771