CASH DISCOUNT AFTER SALE
This query is : Resolved
03 May 2010
Sir,
A Dealer of Electronic Equipments paid cash discount to his customer. The credit sale was in March 2010 and the discount allowed in April 2010.
My question is, whether the dealer can claim Tax credit on the "cash"discount?
Please reply
Thanks in Advance
A Dealer of Electronic Equipments paid cash discount to his customer. The credit sale was in March 2010 and the discount allowed in April 2010.
My question is, whether the dealer can claim Tax credit on the "cash"discount?
Please reply
Thanks in Advance
03 May 2010
its a business policy he will claim it current year when he is giving discount.
03 May 2010
Sir actually my question is not about the period of sale & dicount. The quetion is about "cash" discount. I don't know whether the date will affect the matter, that's why I shown the period also.
Sir as per KVAT Act, cash discount is to be shown in Invoice. That indirectly meant that the cash discount after sale cannot be claimed.
Please verify this also and please reply.
Sir as per KVAT Act, cash discount is to be shown in Invoice. That indirectly meant that the cash discount after sale cannot be claimed.
Please verify this also and please reply.
04 May 2010
Cash discount given to party for prompt payment. it is alloable at any time exps booked. but is is befour full and final settelment of customers.
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