Home Highlights May 2012 Year 2012 This

You may also like:

1. TDS liability - Factoring/discounting charges cannot be treated as interest for the purpose of 194A - HC

2. TDS u/s 194A - Addition u/s 40(a(ia) - TDS on factoring charges - In the nature of interest or not - The transaction entered into by the assessee is with M/s SBI Global...

3. Interest u/s 2(28A) - Taxability and TDS u/s 195 - discounting bills of exchange and promissory note - discounting charges did not amount to interest and was not subject...

4. Valuation - Nature of discount offered to Distributors and not to other buyers - Section 4 essentially seeks to accept different transaction value which may be charge by...

5. Levy of service tax - activity of bill discounting - The benefit of the exemption will be available whether the consideration is described as interest or discount - AT

6. Clarification on various doubts related to treatment of secondary or post-sales discounts under GST.

7. Amounts received from Indian associated enterprises - whether were in the form of interest or discounting charges? - The true nature of transaction cannot alter merely...

8. Undisclosed sales or suppressed income - Genuineness of heavy discount given to certain parties - Addition relating to lower price charged from HHPL as compared from the...

9. Sales Tax / VAT - allowability of discount provided vide credit notes under rule 9(a) – discount given by means of credit notes issued subsequent to the sale is as much...

10. Valuation u/s 15(3) - Validity of GST on volume discount - Petitioner submited that, GST is levied and paid on the entire invoice amount, which includes volume discount....

11. Valuation - quantity discount - includibility - there is no scope for deducting the value of M.R.P goods which are supplied along with identical goods in the same...

12. Eligibility of quantity discount - as cash discount is something which is "known" at or prior to the clearance of the goods, being contained in the agreement of sale...

13. Discount to customers - Merely because the receipt vouchers were made by the assessee cannot be a ground to make ad hoc disallowance out of the claim of discount - AT

14. Input tax credit - Reversal of ITC - the applicant can avail the Input Tax Credit of the full GST charged on the invoice of the supply and no proportionate reversal of...

15. Discounting the maturity value of loan portfolio on assignment to commercial banks - amount of discounted future interest received by assessee during the year is taxable...