https://www.taxtmi.com/caselaws?id=150332 Liability to purchase tax depends on the law in force during the relevant assessment year, so a later amendment cannot retrospectively alter the tax point for prior turnover. The amendment introduced by Mysore Act 9 of 1970 operated only prospectively from 1 April 1970 and did not govern stock held during 1 April 1969 to 31 March 1970. Applying the principle on declared goods and single-point levy, groundnut and cotton stock in hand on 31 March 1970 had not yet become the last purchase inside the State for that year, so it was not exigible to purchase tax for the relevant assessment period. en-us Wed, 18 Jul 1973 00:00:00 +0530 Mon, 13 May 2013 14:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150332 Liability to purchase tax depends on the law in force during the relevant assessment year, so a later amendment cannot retrospectively alter the tax point for prior turnover. The amendment introduced by Mysore Act 9 of 1970 operated only prospectively from 1 April 1970 and did not govern stock held during 1 April 1969 to 31 March 1970. Applying the principle on declared goods and single-point levy, groundnut and cotton stock in hand on 31 March 1970 had not yet become the last purchase inside the State for that year, so it was not exigible to purchase tax for the relevant assessment period. Case-Laws VAT and Sales Tax Wed, 18 Jul 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150332