Definition of Trade Discount

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sandeep jain

sandeep jain (Querist)
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30 April 2008 Is trade Discount defined in any act?

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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30 April 2008 Section 7 of THE KERALA VALUE ADDED TAX ACT, 2003:
Trade discount etc. deemed to be sale in certain cases:- Notwithstanding anything
contained in any other provisions of this Act, where a dealer4 allows any trade discount or in
terms of quantity in goods in relation to any sale effected by him, the quantity so allowed as
trade discount or incentive, shall be deemed to be a he dealer, who allows such trade
discount or incentive and a purchase by the dealer who r receives such trade discount or
incentive and such sale shall form part of the sale in relation to which such trade discount or
incentive is allowed.

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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30 April 2008 in general trade dicount means Amount or rate by which the catalog, list, or retail price of an item is reduced when sold to a reseller. It is the reseller's profit margin and usually varies directly with the quantity of the item purchased.

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