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2009 (11) TMI 832 - KERALA HIGH COURTWhether the appellants/petitioners are entitled to exemption from tax payable under the Value Added Tax Act, 2003 on the discount allowed by them after sales through credit notes issued to purchasers? Held that:- We confirm the judgment of the learned single judge upholding the disallowance and demand of tax on discount given after sales through credit notes. However, since the Legislature itself has felt that the discount provision calls for clarification, we feel the penal provision should not be invoked against the appellants/petitioners, provided they accept the disallowance, clear the arrears if any, with interest due thereon. We therefore direct the respondents to recall the orders in the case of such of the appellants/petitioners who concede liability in terms of the judgment and who remit balance tax if any along with applicable rate of interest within three weeks from the date of receipt of a copy of this judgment.
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