Home Highlights February 2015 Year 2015 This

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1. Valuation - VAT - It must be remembered that taxable turnover is turnover net of deductions. All trade discounts are allowable as permissible deductions - SC

2. Valuation of - deduction of discount offered from the depot / from the stockiests and sub stockiests - (Appeals) has given specific finding to the effect that he has...

3. Valuation - deductions in nature of discounts - manufacture of tyres under the brand name “CEAT” on job work basis - the discounts were very much known to the parties...

4. Valuation - quantum of discount to be reduced - appellants are remunerating the re-sellers with 1% trade discount included in the 30% trade discount. The effective trade...

5. Sales Tax / VAT - allowability of discount provided vide credit notes under rule 9(a) – discount given by means of credit notes issued subsequent to the sale is as much...

6. Valuation of imported goods - Transaction Price - Grant of territorial commission/discount cannot be arbitrary/or discriminatory - It does not affect the normal trade...

7. Disallowance of discount from the taxable turnover - There is no evidence that the dealer paid to the assessee the original value of the goods and not the discounted...

8. The Tribunal held that discounts passed by the appellant to dealers do not satisfy the requirement of trade discount for deduction, as the discount is declared for a...

9. Valuation - inclusion of discount in assessable value - Either the Assessing Officer could have added on the discount to the returned turnover or taxed the estimated...

10. Valuation - deduction of discount - discount was given to non-performing dealers also - turnover discount was quantified at the end of calendar year, wherein dealer has...

11. Deduction of Trade discount from Assessable value - commission (claimed as ‘trade discount') paid to agents/dealers for arranged sales to third parties will not be...

12. The appellant contested the service tax demand on trade discounts and incentives received from Tata Motors Limited for promoting or marketing vehicles. The Tribunal held...

13. Valuation - Deduction on account of “turnover discount” - VAT Tribunal fell into error in holding that the discounts on sales which are subject matter of the present...

14. TDS u/s 194H - trade turnover discount - assessee had been debiting trade discount allowed to its commission agents who were acting and procuring orders/effecting sales...

15. TDS u/s 194H - benefit given by the assessee was in the nature of ‘trade discount’ and not ‘commission’ - assessee is not required to deduct TDS u/s. 194H on such...