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VAT

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(Querist)
02 June 2011 Is cash discount deducted before arriving at assessable value or is VAt charged on gross amount?



Do we need to show surchage on VAT seperately or can it be clubbed?? (Questions are specifically about Punjab VAT, but I think it should be same for all states)
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Sanjeev Kumar

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Sanjeev Kumar (Expert)
02 June 2011 u should deduct discount on invoice before AV i.e. 110 (GV) - 10 (Disc.) = 100 (AV) + VAT (12.50) plus surcharge separately
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