https://www.taxtmi.com/caselaws?id=406023 A 1% turnover discount granted to dealers was deductible from taxable turnover under Rule 19(a)(i) because the sales documents showed a pre-existing discount arrangement and the discount was reflected through credit notes. The rule requires a discount allowed in the ordinary course of business or under agreement with the purchaser, with the purchaser paying the reduced price; that condition was treated as satisfied on the record. The discount was not disallowed merely because it was adjusted later rather than deducted in cash at the invoice stage. The statutory scheme supported computation of tax on taxable turnover after permissible deductions, and the technical objection to the timing of adjustment was rejected. en-us Fri, 26 Mar 2021 00:00:00 +0530 Sat, 03 Apr 2021 08:45:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406023 A 1% turnover discount granted to dealers was deductible from taxable turnover under Rule 19(a)(i) because the sales documents showed a pre-existing discount arrangement and the discount was reflected through credit notes. The rule requires a discount allowed in the ordinary course of business or under agreement with the purchaser, with the purchaser paying the reduced price; that condition was treated as satisfied on the record. The discount was not disallowed merely because it was adjusted later rather than deducted in cash at the invoice stage. The statutory scheme supported computation of tax on taxable turnover after permissible deductions, and the technical objection to the timing of adjustment was rejected. Case-Laws VAT and Sales Tax Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406023