https://www.taxtmi.com/forum/issue?id=118593 Treatment of turnover-based discounts issued as commercial credit notes without GST is questioned as to whether they should reduce purchases in the trading account or be shown as indirect income, since separate income presentation has attracted tax authority attempts to tax such amounts; the discounts are structural under purchase agreements and clear contractual drafting is emphasised to define their accounting and tax character. en-us Tue, 20 Jun 2023 17:48:25 +0530 Thu, 23 Jan 2025 15:54:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118593 Treatment of turnover-based discounts issued as commercial credit notes without GST is questioned as to whether they should reduce purchases in the trading account or be shown as indirect income, since separate income presentation has attracted tax authority attempts to tax such amounts; the discounts are structural under purchase agreements and clear contractual drafting is emphasised to define their accounting and tax character. Discussion-Forum Companies Law Tue, 20 Jun 2023 17:48:25 +0530 https://www.taxtmi.com/forum/issue?id=118593