https://www.taxtmi.com/caselaws?id=191196 Post-sale discounts granted through credit notes were held deductible in computing taxable turnover, because rule 31 governing credit and debit notes does not conflict with rule 3(2)(c) on turnover deductions. The Court treated the issuance of a credit note after the sale as reducing the sale value, with the corresponding turnover and tax liability falling accordingly. It further accepted that such discounts could be reflected in the relevant return period under section 30 and rule 31, and that neither provision excluded this treatment. The reassessment and appellate orders disallowing the deduction were therefore unsustainable. en-us Tue, 16 Feb 2016 00:00:00 +0530 Fri, 24 Mar 2017 12:55:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191196 Post-sale discounts granted through credit notes were held deductible in computing taxable turnover, because rule 31 governing credit and debit notes does not conflict with rule 3(2)(c) on turnover deductions. The Court treated the issuance of a credit note after the sale as reducing the sale value, with the corresponding turnover and tax liability falling accordingly. It further accepted that such discounts could be reflected in the relevant return period under section 30 and rule 31, and that neither provision excluded this treatment. The reassessment and appellate orders disallowing the deduction were therefore unsustainable. Case-Laws VAT and Sales Tax Tue, 16 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191196