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
VAT - Highlights / Catch Notes

Home Highlights April 2021 Year 2021 This

Disallowance of discount from the taxable turnover - There is no ...

Case Laws     VAT and Sales Tax

April 3, 2021

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 price - the authorities below have adopted a too technical an approach in disallowing the deduction of discount from the taxable turnover of the assessee. - HC

View Source

 


 

You may also like:

  1. 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...

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

  3. Raising unpaid tax demands - recovery of short paid tax - According to the AO, the petitioner could not have excluded the discounts passed on to the dealers from his...

  4. Allowability of Turnover discount and Service discount – Assessee has not produced any evidence to show that the discounts was also allowed to other parties in the past...

  5. 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

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

  7. The ITAT Jaipur, in a case involving unexplained money u/s 69A, found that the assessee, a widow running a medical retail store, deposited cash exceeding turnover. The...

  8. Valuation - scope of taxable turnover - whether cost of warranty replacement is liable to be treated as "taxable turnover" or not? - dealer it is an authorized agency of...

  9. Key legal principles and decisions related to various disallowances and additions made by the Assessing Officer (AO) under different sections of the Income Tax Act. The...

  10. The differential dealer margin provided by the petroleum companies to its retail dealers is considered a taxable supply of service under GST. The amount paid as...

  11. TDS u/s 194H - commission payment to dealers - commission payment to dealers for distribution of SIM cards and recharge coupons of telecom service providers - whether...

  12. Disallowance of membership fee paid to club u/s. 37 - unless assessee demonstrate with relevant evidences that subscription fee paid to club, is for the purpose of...

  13. 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...

  14. Determination of turnover for presumptive taxation u/s 44AD - The assessee contended that receipts cannot be treated as ancillary receipts as the assessee had already...

  15. 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...

 

Quick Updates:Latest Updates