https://www.taxtmi.com/caselaws?id=302434 Post-sale discounts under the Kerala Value Added Tax Act, 2003 were deductible from taxable turnover only where the discount was separately shown in the tax invoice and the sale was effected on the net price after such discount. The court treated the explanation amendment as clarificatory of the existing statutory position, not as introducing a new condition, and applied the prescribed invoice procedure to the turnover definition. Because the discounts were later granted through credit notes and were not separately reflected in the tax invoice, they did not qualify for deduction from taxable turnover. The claim for deduction was rejected and tax on the discounted amount was upheld. en-us Mon, 30 Nov 2009 00:00:00 +0530 Thu, 26 May 2022 15:18:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302434 Post-sale discounts under the Kerala Value Added Tax Act, 2003 were deductible from taxable turnover only where the discount was separately shown in the tax invoice and the sale was effected on the net price after such discount. The court treated the explanation amendment as clarificatory of the existing statutory position, not as introducing a new condition, and applied the prescribed invoice procedure to the turnover definition. Because the discounts were later granted through credit notes and were not separately reflected in the tax invoice, they did not qualify for deduction from taxable turnover. The claim for deduction was rejected and tax on the discounted amount was upheld. Case-Laws VAT and Sales Tax Mon, 30 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302434