The cash/ trade discounts to the customers are allowable as business expenditure even if the same is not reflected in the invoice, said the Income Tax Appellate Tribunal, Hyderabad bench. The decision would be a great relief to the traders as the earlier VAT and sales tax laws and the present GST laws do not […]
The post Relief to Traders: Discounts not mentioned in Invoice are allowable as Expenditure, says ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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