https://www.taxtmi.com/caselaws?id=265578 An assessee that voluntarily opts for compounding under the Kerala General Sales Tax Act remains bound by the statutory method of computation for the relevant months. Liability is fixed by the higher of the two prescribed formulas, and it cannot be avoided merely because there were no purchases or sales after cancellation of the licence. Where the alternative formula continues to produce tax payable by reference to the prescribed percentage of the previous three years' turnover, the compounded tax liability persists for the period in question. en-us Thu, 17 Jul 2014 00:00:00 +0530 Tue, 13 Oct 2015 06:41:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265578 An assessee that voluntarily opts for compounding under the Kerala General Sales Tax Act remains bound by the statutory method of computation for the relevant months. Liability is fixed by the higher of the two prescribed formulas, and it cannot be avoided merely because there were no purchases or sales after cancellation of the licence. Where the alternative formula continues to produce tax payable by reference to the prescribed percentage of the previous three years' turnover, the compounded tax liability persists for the period in question. Case-Laws VAT and Sales Tax Thu, 17 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265578