https://www.taxtmi.com/caselaws?id=167994 The Kerala High Court dismissed the review petitions regarding liability under section 7(1)(a) for payment of tax at compounded rates. The court held that the tax payable should be 200% of the highest amount among the tax payable by the dealer as per the return, tax payable based on the accounts of the preceding year, and the tax paid for the preceding year. The liability is determined by the higher amount between the tax payable in the return and the tax payable based on turnover, with the tax paid in the preceding year factored in. en-us Thu, 14 Jun 2012 00:00:00 +0530 Thu, 01 Jan 2015 22:09:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167994 The Kerala High Court dismissed the review petitions regarding liability under section 7(1)(a) for payment of tax at compounded rates. The court held that the tax payable should be 200% of the highest amount among the tax payable by the dealer as per the return, tax payable based on the accounts of the preceding year, and the tax paid for the preceding year. The liability is determined by the higher amount between the tax payable in the return and the tax payable based on turnover, with the tax paid in the preceding year factored in. Case-Laws VAT and Sales Tax Thu, 14 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167994