https://www.taxtmi.com/caselaws?id=164899 For assessment year 2002-03, a gold jewellery dealer opting for compounded taxation under section 7(1)(a) of the Kerala General Sales Tax Act had to compute liability at 200 per cent of the higher amount between the tax actually paid at the compounded rate for the preceding year and the tax payable under sections 5(1) and 5A on the basis of the return and accounts. Because the amended provision effective from 1 April 2002 required comparison with the regular tax payable for the preceding year, the higher base applied where the compounded tax paid was lower. On that construction, the compounded liability was to be calculated on the tax payable under sections 5(1) and 5A. en-us Fri, 29 May 2009 00:00:00 +0530 Mon, 05 May 2014 18:18:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164899 For assessment year 2002-03, a gold jewellery dealer opting for compounded taxation under section 7(1)(a) of the Kerala General Sales Tax Act had to compute liability at 200 per cent of the higher amount between the tax actually paid at the compounded rate for the preceding year and the tax payable under sections 5(1) and 5A on the basis of the return and accounts. Because the amended provision effective from 1 April 2002 required comparison with the regular tax payable for the preceding year, the higher base applied where the compounded tax paid was lower. On that construction, the compounded liability was to be calculated on the tax payable under sections 5(1) and 5A. Case-Laws VAT and Sales Tax Fri, 29 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164899