2015 (7) TMI 1141

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....nic,J. This revision is filed by the assessee, who is aggrieved by the order passed by the Tribunal in TA(VAT) No.263/2008. By this order, the Tribunal has confirmed the order of assessment passed under Section 25 of the KVAT Act, whereby the assessment was completed adding discount received by the assessee also to be his turnover. 2. We heard the learned counsel for the petitioner and the l....

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.... (Law), Board of Revenue (Taxes), Ernakulam v. Motor Industries Co. [53 STC 48], the discount received by the assessee is not liable to be included in the turnover of the assessee. 4. On the other hand, according to the learned Government Pleader, in view of the provisions contained in Section 2(lii) read with its explanations, the assessing authority has rightly included the discount received ....

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....subsequently receives any amount towards reimbursement of the balance of the price, the amount so received shall be deemed to be turnover in respect of such goods. 6. In so far as this case is concerned, admittedly the assessee has sold cement purchased from Malabar Cements Ltd. at a price lower than the price at which it was purchased by him. Subsequently, the assessee has received further ....

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....he turnover is only a discount on the price allowed by a dealer, where such discount is shown separately in the tax invoice and the buyer pays only the amount reduced by such discount. 8. The above provisions of the Act show that any reimbursement of the price received by a dealer, is liable to be included in his turnover whereas the discount allowed to the customer, and shown separately in the....