https://www.taxtmi.com/caselaws?id=303299 Trade discount and credit notes granted to dealers were treated as deductions from taxable turnover where they were supported by agreement or established trade practice and were reflected in the dealer's accounts. The Court applied settled sales tax principles that such discounts do not form part of the sale price when properly documented, so the revised assessments and appellate orders disallowing the deductions could not stand. On that basis, the writ petitions succeeded, the adverse tax demands based on disallowance of trade discount were set aside, and refund of amounts paid was directed. en-us Wed, 14 Aug 2019 00:00:00 +0530 Tue, 12 Jul 2022 20:31:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303299 Trade discount and credit notes granted to dealers were treated as deductions from taxable turnover where they were supported by agreement or established trade practice and were reflected in the dealer's accounts. The Court applied settled sales tax principles that such discounts do not form part of the sale price when properly documented, so the revised assessments and appellate orders disallowing the deductions could not stand. On that basis, the writ petitions succeeded, the adverse tax demands based on disallowance of trade discount were set aside, and refund of amounts paid was directed. Case-Laws VAT and Sales Tax Wed, 14 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303299