Debate Over Including Discounts in VAT and Sales Tax Assessable Value: Implications for Estimated Turnover Calculation.

Debate Over Including Discounts in VAT and Sales Tax Assessable Value: Implications for Estimated Turnover Calculation. https://www.taxtmi.com/highlights?id=44289 Valuation - inclusion of discount in assessable value - Either the Assessing Officer could have added on the discount to the returned turnover or taxed the estimated turnover adding G.P. When the sales turnover is estimated after computing the G.P then necessarily the entire turnover is taxed - contrary is liable to set aside. en-us Mon, 04 Feb 2019 08:06:55 +0530 Mon, 04 Feb 2019 08:06:55 +0530 TaxTMI RSS Generator Debate Over Including Discounts in VAT and Sales Tax Assessable Value: Implications for Estimated Turnover Calculation. https://www.taxtmi.com/highlights?id=44289 Valuation - inclusion of discount in assessable value - Either the Assessing Officer could have added on the discount to the returned turnover or taxed the estimated turnover adding G.P. When the sales turnover is estimated after computing the G.P then necessarily the entire turnover is taxed - contrary is liable to set aside. Highlights VAT and Sales Tax Mon, 04 Feb 2019 08:06:55 +0530 https://www.taxtmi.com/highlights?id=44289