2018 (12) TMI 1895

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.... the Petitioner : Mr.R. Rooban For the Respondent : Mr.K.Mu.Muthu Additional Government Pleader ORDER The petitioner is a dealer in cements and he has registered himself with the second respondent. The issue on hand pertains to the assessment year 2014-2015. The petitioner purchases his goods from India Cements. The petitioner's assessment got concluded on a deemed assessment basis an....

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....#39;s purchase turnover being lower, he cannot claim ITC on the original purchase price. This stand of respondent / Assessing Officer cannot be accepted. It clearly runs counter to the statutory scheme set out in TNVAT Rules, 2006. Section 2(41) of the Act defines what is "turnover". The Explanation (II) (ii) of Section 2 (41) states that any discount on the price allowed in respect of any sale sh....