Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Central Excise - Highlights / Catch Notes

Home Highlights October 2016 Year 2016 This

Valuation - deduction of discount - discount was given to ...


Court Upholds Legitimacy of Pre-Disclosed Turnover Discounts for Dealers in Central Excise Valuation Case.

October 3, 2016

Case Laws     Central Excise     AT

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 sold the cars of previous year - discount was made known to dealers in advance - Demand set aside - AT

View Source

 


 

You may also like:

  1. 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...

  2. TDS - Cash discount allowed to the dealers and sub-dealers for promotion of goods - cash discount is not commission - provisions of section 194H are not applicable - AT

  3. Accrual of income - Difference between the receipts as per books and form No.26AS - Assessee has shown turnover of Rs.10.09 crores, declaring GP at 9.16% and Net Profit...

  4. 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...

  5. The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed the appeal and set aside the impugned order. The additional discount of 8-10% given by the...

  6. 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...

  7. The High Court confirmed the tax assessment u/s 7A for nonproduction of sale bill. The burden of proof lies on the dealer to show transactions are not taxable. Failure...

  8. Service of notice - whether pre-revisional notices was served on the writ petitioner-dealer - This is a fit case to give the benefit of doubt to the writ...

  9. The ITAT upheld the reopening of assessment u/s 147 as the assessee had not disclosed a savings bank account with cash deposits of Rs. 13,20,535, providing prima facie...

  10. Determination of turnover - Disallowance of discount - Assessee give discount on sale of motor vehicles - by issuing a credit note after receiving the amounts, of...

  11. The Supreme Court interpreted the definition of "purchase price" u/s 2(18) of the Gujarat Value Added Tax Act, 2003 (GVAT Act). It held that purchases on which value...

  12. Records maintained by a registered Central Excise Manufacturer / Dealer - Article

  13. The appellant's application seeking attachment of a flat in lieu of the mandatory pre-deposit u/s 43(5) of the RERA was dismissed. The court held that the appellant...

  14. Rejection of rectification petition - turnover of the petitioner was erroneously reported in the GSTR 1 return - The High Court acknowledges the petitioner's claim...

  15. Levy of CST - inter-state sales effected without C-Form declarations - amount claimed as deduction by the petitioner to be in the nature of discount requiring compliance...

 

Quick Updates:Latest Updates