https://www.taxtmi.com/caselaws?id=354893 Trade discount granted through a subsequent invoice was deductible in computing taxable turnover under the Karnataka Value Added Tax Act, 2003 and Rule 3(2)(c) because taxable turnover means net turnover after permissible deductions, and genuine discounts given under regular practice or contractual terms are allowable. The requirement that the invoice or bill of sale show the discount was treated as a mode of proof, not a substantive bar, so the discount need not appear on the original sale invoice if the assessee proves the link to specific sales through accounts and contemporaneous records. The earlier construction in Southern Motors was followed, and the contrary view was rejected. en-us Tue, 06 Feb 2018 00:00:00 +0530 Thu, 26 Apr 2018 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354893 Trade discount granted through a subsequent invoice was deductible in computing taxable turnover under the Karnataka Value Added Tax Act, 2003 and Rule 3(2)(c) because taxable turnover means net turnover after permissible deductions, and genuine discounts given under regular practice or contractual terms are allowable. The requirement that the invoice or bill of sale show the discount was treated as a mode of proof, not a substantive bar, so the discount need not appear on the original sale invoice if the assessee proves the link to specific sales through accounts and contemporaneous records. The earlier construction in Southern Motors was followed, and the contrary view was rejected. Case-Laws VAT and Sales Tax Tue, 06 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354893