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TMI Blog2021 (5) TMI 560X X X X Extracts X X X X X X X X Extracts X X X X ..... R.Swarnavel Government Advocate ORDER The petitioner has challenged the impugned order dated 28.03.2016. 2. By the impugned order, the taxable turn over has been determined as Rs. 18,37,435/- and the tax due on the aforesaid amount has been determined as Rs. 2,66,428/- as detailed below:- Turnover now determined : Rs. 18,37,435.00 Tax due now levied : Rs. 2,66,428.00 Tax on reversal of cre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act 2006 for the year 2013- 2014. The discount received are liable for reversal of ITC under section 19(20) of the VAT Act 2006. Hence the ITC is reversed as follows:- 1) Other income Rs. 18,37,435/- x 14.5% = Rs. 2,66,428/- 2) Discount received Rs. 17,71,2111/-x14.5% = Rs. 2,56,826/- ---------------------- Total tax effect = Rs. 5,23,254/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,681/- ----------------- Rs. 18,37,435/- ----------------- From the above it is clear that for the cash discount received and commission received the provisions of the TNVAT is not applicable. From the foregoing submissions, we request you to kindly drop the proceedings initiated." 5. Based on the above reply of the petitioner, the impugned order has been passed. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on merits in the rectification application filed by the petitioner. Appropriate orders may be passed in accordance with law after hearing the petitioner within a period of three months from the date of receipt of a copy of this order. 8. Pending disposal of the rectification application, the respondent shall maintain the status quo as far as the recovery is concerned. The petitioner is given lib ..... X X X X Extracts X X X X X X X X Extracts X X X X
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