https://www.taxtmi.com/caselaws?id=164014 The Kerala HC held that a retrospective amendment to section 7 of the Kerala General Sales Tax Act, 1963 was valid because it changed only the mode of quantification under the compounding scheme and did not abolish the scheme itself. Promissory estoppel and any alleged vested right could not prevent the Legislature from amending the taxing provision, and prior exercise of the compounding option did not create an immutable entitlement. The Court also read clauses (a) and (b) conjunctively, so the higher of the two computations governed tax payable. The retrospective amended compounding scheme was therefore sustained as a valid fiscal measure. en-us Fri, 28 Sep 2007 00:00:00 +0530 Thu, 25 Dec 2014 11:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164014 The Kerala HC held that a retrospective amendment to section 7 of the Kerala General Sales Tax Act, 1963 was valid because it changed only the mode of quantification under the compounding scheme and did not abolish the scheme itself. Promissory estoppel and any alleged vested right could not prevent the Legislature from amending the taxing provision, and prior exercise of the compounding option did not create an immutable entitlement. The Court also read clauses (a) and (b) conjunctively, so the higher of the two computations governed tax payable. The retrospective amended compounding scheme was therefore sustained as a valid fiscal measure. Case-Laws VAT and Sales Tax Fri, 28 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164014