INTERVIEW QUESTIONS COMMERCE CA DETAILS

Question: What are: trade discount, discount and rebate?

Answer: Trade discount is normally given to the regular customers who are buying the products in large numbers. It can be like if you buy 100 numbers we will give you 10 numbers free or buy for Rs.1000/- and get 100/- worth free.

Discount is similar to above but will be given for Credit customers like if you pay within one week 10%, within 15 days 5% and more than 15 days no discount.

Rebate is like buy for 100/- and pay only Rs95/-.

Trade discount is normally given to the regular customers who are buying the products in large numbers. It can be like if you buy 100 numbers we will give you 10 numbers free or buy for Rs.1000/- and get 100/- worth free.

Discount is similar to above but will be given for Credit customers like if you pay within one week 10%, within 15 days 5% and more than 15 days no discount.

Rebate is like buy for 100/- and pay only Rs95/-.
Source: CoolInterview.com

trade discount means to get discount who perchase large no. of product is called as trade discount Source: CoolInterview.com

plz clarify whether input tax credit reversed on credit notes/ rebate & discount received from companies
Source: CoolInterview.com

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