https://www.taxtmi.com/caselaws?id=162957 Compounding under section 7(1)(a) of the Kerala General Sales Tax Act required the dealer to have carried on business throughout the three immediately preceding financial years, because the tax was computed by reference to a twelve-month period within that three-year block. Where business was not transacted for part of a year, the first proviso allowed proportionate computation, but it did not remove the basic requirement of business existence across the three years. The proviso inserted from 1 April 1998 was treated as clarificatory, not as creating a new substantive entitlement. On that basis, compounding for 1996-97 was unavailable. en-us Thu, 30 Mar 2006 00:00:00 +0530 Wed, 19 Mar 2014 13:08:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162957 Compounding under section 7(1)(a) of the Kerala General Sales Tax Act required the dealer to have carried on business throughout the three immediately preceding financial years, because the tax was computed by reference to a twelve-month period within that three-year block. Where business was not transacted for part of a year, the first proviso allowed proportionate computation, but it did not remove the basic requirement of business existence across the three years. The proviso inserted from 1 April 1998 was treated as clarificatory, not as creating a new substantive entitlement. On that basis, compounding for 1996-97 was unavailable. Case-Laws VAT and Sales Tax Thu, 30 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162957