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Selling DVAT Dealer not eligible to make adjustment of output tax on account of issue of credit note for cash discount. [DVAT Circular 30 of 19-12-2013].
Sum paid for copyright in a film for a term more than that stipulated in Copyright Act excludes it from term 'royalty' [Mrs. K. Bhagyalakshmi Vs. Dy. CIT (2013) 40taxmann.com 350 (Madras)].
Purchaser can adjust input tax credit for Cr/Dr notes for trade discount, Returns/Rejections, variation in rate or quantity etc. [DVAT Circular 30 of 19-12-2013].
Sum paid for copyright in a film for a term more than that stipulated in Copyright Act excludes it from term 'royalty' [Mrs. K. Bhagyalakshmi Vs. Dy. CIT (2013) 40taxmann.com 350 (Madras)].
Purchaser can adjust input tax credit for Cr/Dr notes for trade discount, Returns/Rejections, variation in rate or quantity etc. [DVAT Circular 30 of 19-12-2013].