https://www.taxtmi.com/caselaws?id=191382 Post-sale discounts claimed through credit notes are deductible from taxable turnover under the KVAT scheme only if the assessee proves that the reduction is a genuine trade discount or a contractual discount traceable to a contract, agreement or established trade practice. The dealer must support the claim with contemporaneous records such as tax invoices, sale bills, credit notes, debit notes and monthly returns so the facts can be verified. Precedents on discounts cannot be applied in the abstract without examining the actual transaction documents. Because the factual foundation and verification were incomplete, the impugned orders were set aside and the matter remitted for fresh consideration. en-us Mon, 02 Nov 2015 00:00:00 +0530 Sat, 01 Apr 2017 10:10:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191382 Post-sale discounts claimed through credit notes are deductible from taxable turnover under the KVAT scheme only if the assessee proves that the reduction is a genuine trade discount or a contractual discount traceable to a contract, agreement or established trade practice. The dealer must support the claim with contemporaneous records such as tax invoices, sale bills, credit notes, debit notes and monthly returns so the facts can be verified. Precedents on discounts cannot be applied in the abstract without examining the actual transaction documents. Because the factual foundation and verification were incomplete, the impugned orders were set aside and the matter remitted for fresh consideration. Case-Laws VAT and Sales Tax Mon, 02 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191382