Case Judgement on credit notes under vat act

Mr A Biswal,

  Under amended Sec 35 of KVAT Act one can flile a revised return on his own within

next month/quarter. If any revision of declared figures becomes necessary later on

he has to obtain permission from the priscribed authority(LVO),but within six months.

MJK

MJK Sir

Thanks for your reply; But it could not clerify my one query on credit notes, those are being issued on further allowing discounts during the financial period under several promotional scheme in the competitive market ..

thanks

  Mr A Biswal,

 On these grounds of trade and cash discounts some traders were claiming lot of dedu-

ctions from VAT (it is suspected so).In order to control such malpractices a restriction is

 created on use of credit notes in filing revised returns.......MJK

Sir

Now i got the related supreme court judgement on my query thorugh this below link, pls have a look ..

/articles/recent-judgement-of-supreme-court-on-trade-discounts-13289.asp#.UEd7Sd12sis

thanks