KVAT: Discounts received via Credit Notes are Part of Sales Turnover

Any reimbursement of price received by a dealer is liable to be included in his turnover whereas the discount allowed to the customer and shown separately is liable to be excluded. It was held that the amount received by the assessee towards reimbursement of the balance price, though called reimbursement of discount, is a payment in reimbursement of balance of the price attracting Explanation VII to section 2(lii). The question would be whether the amendment brought to the 5th proviso to Section 11(3)  of KVAT Act, 2003 has the effect of not including the credit notes issued by a supplier to ...