discount and rebates in case of vat
This query is : Resolved
12 October 2009
in case any discount is allowed the amount of sale of product,
then what should be the treatment of vat and discount?
should discount be allowed be4 charging vat or vica versa?
then what should be the treatment of vat and discount?
should discount be allowed be4 charging vat or vica versa?
CA. B.SRINIVASULU
(Expert)
12 October 2009
If the discount is a trade discount it should be allowed from the proposed sale value and on net value you should charge vat.
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