https://www.taxtmi.com/caselaws?id=105861 Explanation IV to section 2(1)(e) of the Andhra Pradesh General Sales Tax Act, 1957, which brought banks and similar institutions within the definition of "dealer" through a new deeming fiction, was prospective because it created liability for the first time and the Legislature fixed its commencement from 1 August 1996. It could not be applied to an auction sale of pledged ornaments completed in 1987, as the amendment did not merely clarify existing law but enlarged liability for future transactions only. The assessee-bank was therefore not liable under the amended definition for the pre-commencement sale. en-us Thu, 29 Mar 2007 00:00:00 +0530 Tue, 10 May 2016 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105861 Explanation IV to section 2(1)(e) of the Andhra Pradesh General Sales Tax Act, 1957, which brought banks and similar institutions within the definition of "dealer" through a new deeming fiction, was prospective because it created liability for the first time and the Legislature fixed its commencement from 1 August 1996. It could not be applied to an auction sale of pledged ornaments completed in 1987, as the amendment did not merely clarify existing law but enlarged liability for future transactions only. The assessee-bank was therefore not liable under the amended definition for the pre-commencement sale. Case-Laws VAT and Sales Tax Thu, 29 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105861