Wat is the difference between rebate and dicount? Are both synonyms? Do they same accounting treatment or differ?
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 03 March 2010
Rebate:an incentive to be given to a customer .clubbed with qty purchased by a customer within the period specified (say one month)-conditional.
Discount:unconditional to be given to a customer on account of heavy purchase by one single billing.-From the price List(Base price).
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 03 March 2010
Rebate is a partial repayment whereas a refund is a repayment of the total purchase price
Discount is reduction in Price
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