Wat is the difference between rebate and dicount? Are both synonyms? Do they same accounting treatment or differ?
2 Replies
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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