Meaning of Established in this context?


Senior Member
Assamese -India
Value of supply shall not include any discount which is given-

(a) before or at the time of the supply if such discount has been duly recorded in the invoice issued in respect of such supply; and

(b) After the supply has been affected, if

(1) such discount is established in terms of an agreement entered into at or before and specifically linked to the relevant invoices.

What is the meaning of established in this context?
  • lingobingo

    Senior Member
    English - England
    The word established has its usual meaning here. The reference is to a discount whose existence is the result of an agreement, etc.

    (And in (b), affected should read effected.)
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