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Discount

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(Querist)
11 August 2010 Can VAT be charged on the value after trade discount? If it is cash discount should it be on the gross value?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
11 August 2010 The Assessable value of Goods under VAT need to calculate based on the state VAT act. if the state VAT act allowed deducting the cash discount.

But the Invoice value will be taken as assessable value in most of the cases
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Nithya Dilip

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Nithya Dilip (Querist)
12 August 2010 So Invoice value after discount?



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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
12 August 2010 If the dicount showing invoice itself then it will be allowed

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