https://www.taxtmi.com/caselaws?id=172083 A dealer commencing business for the first time could claim the proviso to section 6(1) of the KVAT Act only for the initial assessment year, so the first ten lakhs of turnover was exempt and tax applied only to the excess. Input tax credit under section 11 was unavailable where the dealer did not disclose the actual taxable turnover and the tax liability emerged only on scrutiny, because the statutory benefit depends on compliance with the Act's tax-payment framework. The note also records that the Revenue could proceed with fresh assessments in accordance with the statutory scheme. en-us Fri, 27 Sep 2013 00:00:00 +0530 Thu, 03 Dec 2015 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172083 A dealer commencing business for the first time could claim the proviso to section 6(1) of the KVAT Act only for the initial assessment year, so the first ten lakhs of turnover was exempt and tax applied only to the excess. Input tax credit under section 11 was unavailable where the dealer did not disclose the actual taxable turnover and the tax liability emerged only on scrutiny, because the statutory benefit depends on compliance with the Act's tax-payment framework. The note also records that the Revenue could proceed with fresh assessments in accordance with the statutory scheme. Case-Laws VAT and Sales Tax Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172083