Friday 30 May 2014

Quantity discount to distributor for his previous performance couldn’t be reduced from his current t

CST & VAT : Where assessee was engaged in manufacture of home appliances and it allowed quantity discount to its distributors and claimed same as deduction from total turnover while arriving at taxable turnover, in terms of rule 3(2)(c) of Karnataka Value Added Tax Rules, 2005, quantity discount was not allowable as deduction from total turnover


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