https://www.taxtmi.com/caselaws?id=167737 The Karnataka High Court upheld the amendment to section 4(4) of the Karnataka Value Added Tax Act, 2003, holding that the Legislature had the power to give the fiscal change prospective operation and was not bound to make it retrospective from 2 October 2006. The amended provision was treated as an optional alternate tax scheme, because a registered dealer could elect to pay tax on the maximum retail price basis or continue under the normal method of taxation. As the scheme was not compulsory and did not violate constitutional limits, the court found no arbitrariness in the absence of retrospectivity and rejected the challenge. en-us Thu, 11 Oct 2012 00:00:00 +0530 Thu, 01 Jan 2015 22:09:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167737 The Karnataka High Court upheld the amendment to section 4(4) of the Karnataka Value Added Tax Act, 2003, holding that the Legislature had the power to give the fiscal change prospective operation and was not bound to make it retrospective from 2 October 2006. The amended provision was treated as an optional alternate tax scheme, because a registered dealer could elect to pay tax on the maximum retail price basis or continue under the normal method of taxation. As the scheme was not compulsory and did not violate constitutional limits, the court found no arbitrariness in the absence of retrospectivity and rejected the challenge. Case-Laws VAT and Sales Tax Thu, 11 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167737