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TMI Blog2015 (7) TMI 1141X X X X Extracts X X X X X X X X Extracts X X X X ..... sement of the price received by a dealer, is liable to be included in his turnover whereas the discount allowed to the customer, and shown separately in the tax invoice, is liable to be excluded. Revision application dismissed - decided against revisionist. - O.T.Rev. No.98 of 2012 - - - Dated:- 13-7-2015 - ANTONY DOMINIC SHAJI P. CHALY, JJ. BY ADV. SRI.DALE P.KURIEN RESPONDENT/REVENUE: BY SENIOR GOVERNMENT PLEADER SRI. LIJU STEPHEN ORDER Antony Dominic,J. This revision is filed by the assessee, who is aggrieved by the order passed by the Tribunal in TA(VAT) No.263/2008. By this order, the Tribunal has confirmed the order of assessment passed under Section 25 of the KVAT Act, whereby the assessment was complete ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s per this provision, the turnover means the aggregate amount for which goods are either bought or sold, supplied or distributed by a dealer. Explanation VII to this section reads thus: Explanation VII:-Where a dealer sells any goods purchased by him at a price lower than that at which it was purchased and subsequently receives any amount from any person towards reimbursement for the balance of the price, the amount so received shall be deemed to be turnover in respect of such goods. Reading of the Explanation shows that where a dealer sells any goods purchased by him at a price lower than at which it was purchased and subsequently receives any amount towards reimbursement of the balance of the price, the amount so received shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liable to be excluded. If this be the statutory provision, the assessing authority cannot be faulted for adding the payment received by the assessee to his taxable turnover. 9. All the judgments relied on by the assessee, were rendered in the context of the KGST Act and the corresponding Sales Tax Law prevailing in the State of Andhra Pradesh and not in the context of KVAT Act. In these judgments, the courts did not have any occasion to interpret a provision such as Explanation VII to Section 2(lii) of the KVAT Act. We, therefore, do not see any relevance to these judgments. 10. In so far as Circular No.41/2007 is concerned, a copy of the circular has been produced as Annexure - E. This circular only deals with input tax claim and ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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