Vat

vipul Kumar Agarwal (Querist) 23 February 2012 This query is : Resolved
I asked to all vat experts pls.suggestion of credit note of cash discount and quantity discount .because assesse officer
vat charges on credit note ( cash discount and quantity discount )
thanks

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Sankaranarayanan (Expert) 24 February 2012
VAT is only for commercial transaction. The value of goods only be charge under approprite tax. Cash discount should be detected from the gross total. After discounting amound to be levied tax and pay or setrate with input tax

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