https://www.taxtmi.com/caselaws?id=296367 Input tax credit could not be denied to the purchasing dealer merely because the selling dealer later issued a credit note for discount, where the tax component in the original tax invoice remained unchanged. Under the Tamil Nadu Value Added Tax Act, discounts are excluded from turnover and Rule 10(6)(b)ii(C) permits credit notes for discount or sales incentives without disturbing the original tax element. As tax had already been paid on the original purchase price, the assessing authority's refusal to allow input tax credit was contrary to the statutory framework, and the assessment order was unsustainable. en-us Fri, 21 Dec 2018 00:00:00 +0530 Sat, 17 Jul 2021 07:26:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296367 Input tax credit could not be denied to the purchasing dealer merely because the selling dealer later issued a credit note for discount, where the tax component in the original tax invoice remained unchanged. Under the Tamil Nadu Value Added Tax Act, discounts are excluded from turnover and Rule 10(6)(b)ii(C) permits credit notes for discount or sales incentives without disturbing the original tax element. As tax had already been paid on the original purchase price, the assessing authority's refusal to allow input tax credit was contrary to the statutory framework, and the assessment order was unsustainable. Case-Laws VAT and Sales Tax Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296367