https://www.taxtmi.com/caselaws?id=163861 A taxpayer's conduct can amount to an effective election for compounding under section 8(e) of the Kerala Value Added Tax Act, 2003 even without filing the prescribed application, where tax has been billed and remitted in accordance with the scheme and purchasers have acted on that basis. For drugs and medicines covered by that election, the compounded rate based on maximum retail price applies. Other products not covered by the compounding arrangement remain taxable under the normal provisions of the Act. The clarification sustaining this treatment confirms that a party cannot accept the benefits of the compounding method for the relevant goods and later deny that election for the same category. en-us Tue, 24 Mar 2009 00:00:00 +0530 Sat, 29 Jul 2017 09:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163861 A taxpayer's conduct can amount to an effective election for compounding under section 8(e) of the Kerala Value Added Tax Act, 2003 even without filing the prescribed application, where tax has been billed and remitted in accordance with the scheme and purchasers have acted on that basis. For drugs and medicines covered by that election, the compounded rate based on maximum retail price applies. Other products not covered by the compounding arrangement remain taxable under the normal provisions of the Act. The clarification sustaining this treatment confirms that a party cannot accept the benefits of the compounding method for the relevant goods and later deny that election for the same category. Case-Laws VAT and Sales Tax Tue, 24 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163861