Get Rebate

to return (part of an original payment): He rebated five dollars to me. to provide a rebate for (merchandise) after purchase: The manufacturer is rebating this air conditioner.

to pay back an amount of money to someone after they have paid too much: All overpayments must be rebated to taxpayers. (Definition of rebate from the Cambridge Business English Dictionary © Cambridge University Press)

A rebate is, by definition, a sum of money that is paid back to you. You'll most commonly have experienced this in the form of a tax rebate, i.e., a situation in which you have paid too much tax and are due a repayment. A tax rebate can be paid automatically, but you may also be required to go through a refund process.

Definition. A rebate is a deal in which a supplier or vendor offers to return a portion of a customer's purchase price if they buy a certain amount (usually of a specific product) in units or dollars.

Tax rebate refers to the relief you can claim to reduce income tax burden. It refers to the amount of tax liability that you, as a taxpayer, do not have to pay. Tax refund, on the other hand, refers to the amount you receive from the government because your paid taxes exceed your computed tax liability.

What is the difference between discounts and rebates? With a discount, the customer does not have the option to receive the cash and the seller is actually taking a loss. With a rebate, the amount is given to the customer to be used as a part of the sale or to take as cash. The seller does not take a loss.

Refund means you get your full money back, purchasing price of a product. Rebate means you get some discount on whatever you are purchasing. Sometimes rebate word is also used while talking about income tax. It means how much your savings will be exempted from being in taxable income.

Rebate has two legal definitions: (1) A partial return of payment already made.