Taxable Turnover Archives

Supreme Court Clarifies Tax Rates on Works Contracts Before 2006: State of Karnataka vs. Durga Projects Inc. (06 March 2018)

Supreme Court Clarifies Tax Rates on Works Contracts Before 2006: State of Karnataka vs. Durga Projects Inc. LEGAL ISSUE: Determination of the applicable tax rate on goods involved in works contracts under the Karnataka Value Added Tax Act, 2003 (KVAT Act) before the amendment of Section 4(1)(c) on 1 April 2006. CASE TYPE: Tax Law […]

Supreme Court Allows Deduction of Quantity Discounts in VAT Calculation: Maya Appliances vs. Commissioner of Commercial Taxes (2018)

February 6, 2018 / A M Khanwilkar, D Y Chandrachud, Dipak Misra, Judges, Karnataka Value Added Tax Act, 2003, Karnataka Value Added Tax Act, 2003 with Section 2(34), Karnataka Value Added Tax Act, 2003 with Section 2(36), Karnataka Value Added Tax Act, 2003 with Section 3, Karnataka Value Added Tax Rules, 2005, Karnataka Value Added Tax Rules, 2005 with Rule 3(2)(c), Tax Law, Taxable Turnover, Trade Discounts, Value Added Tax

Supreme Court Allows Deduction of Quantity Discounts in VAT Calculation: Maya Appliances vs. Commissioner of Commercial Taxes (2018) Date of the Judgment: 06 February 2018 Citation: (2018) INSC 87 Judges: Dipak Misra, CJI, A M Khanwilkar, J, Dr D Y Chandrachud, J. Can a company deduct discounts given to distributors from its taxable turnover, even

Supreme Court Allows Deduction of Quantity Discounts in VAT Calculation: Maya Appliances vs. Commissioner of Commercial Taxes (2018) Read Post »