Supreme Court · 2017 INSC 55 · Decided 18 January 2017
M/S. Southern Motors v. State of Karnataka and Others
- Court
- Supreme Court of India
- Citation
- 2017 INSC 55 · [2017] 2 S.C.R. 434
- Case number
- CIVIL APPEAL No. 10955/2016
- Decided
- 18 January 2017
- Bench
- DIPAK MISRA, AMITAVA ROY (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Karnataka Value Added Tax Act, 2003: s.2(34) - Post sale discoums - Determination of taxable turnover - Issue of credit notes to the customers granting discounts - Assessee retaining only the net amount that is, the amount shown in the invoice less the sum of discount note - Claim for deduction towards discount accorded by credit notes from the total turnover to quantify the taxable turnover - Held: A plain reading of s.3(2){c) reveal that all amounts allowed as discount qualify for deduction from the total turnover to ascertain the taxable turnover - A trade
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