2018 (12) TMI 1895

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..... lower, he cannot claim ITC on the original purchase price - HELD THAT:- The 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 shall not be includ .....

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..... emed assessment basis and it was sought to be re-visited by issuing a pre-revision notice on 02.05.2017. The petitioner filed his reply. Not satisfied with the same, the impugned order dated 30.05.2017 came to be passed by the second respondent. Questioning the same the Writ Petition has been filed. 2. Heard the learned counsel appearing on either side. 3. The fact that the selling dealer ha .....

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..... n respect of any sale shall not be included in the turnover. As rightly pointed out by the learned counsel for the writ petitioner, Rule 10(6)(b)ii(C) reads as follows: 10(6)(b)ii(C) Wherever any credit notes are to be issued for discount or sales incentives by any dealer to another dealer after issuing tax invoice, the selling dealer shall pass a credit note without disturbing the tax compone .....

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