Discount deductible from Taxable Turnover under J&K Sales Tax

MRF Limited Vs Dy. Commissioner Commercial Taxes and anr. (Jammu and Kashmir High Court) In the cases at hand, the documents on record reveal that every voucher provides for 1% turnover discount, meaning thereby that the discount has been actually allowed as per the agreement/understanding of the parties. The said discount stand deducted as a credit note in respect thereof is issued simultaneously to be adjusted later on or by reimbursement. It is not the case of anyone that the dealer has paid the actual price of the goods mentioned in the voucher and not the lesser amount by way of discount....