Discount

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 August 2013 When a Dealer makes a sale under VAT less than the rate he has received and in turn his supplier issues Credit note for the loss as Discount without any Tax breakup, Will this
Discount attract Vat? in Karnataka

RENGARAJ R.K

RENGARAJ R.K (Expert)
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19 August 2013 In Tamilnadu, Andhra & Kerala, credit note for discount does not attract VAT. You have not specified Your State.

Querist : Anonymous

Querist : Anonymous (Querist)

19 August 2013 It is Karnataka

RENGARAJ R.K

RENGARAJ R.K (Expert)
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20 August 2013 I THINK, FROM 1ST APRIL 2013, CLAIM BASED CREDIT NOTE FOR DISCOUNT, VAT IS NOT ELIGIBLE FOR DEDUCTION IN KARNATAKA ALSO.

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