https://www.taxtmi.com/caselaws?id=189537 Dealers who had validly opted for compounding under the Kerala Value Added Tax Act before the Kerala Finance Act, 2011 came into force could not be reopened to a higher tax burden. Once the compounding option was accepted, either expressly or by conduct such as filing returns and paying tax under the existing regime, the liability for that year attained finality. The validation clause in Section 12 of the Kerala Finance Act, 2011 protected acts done and tax collected during the relevant period, but did not authorise fresh demands for differential tax on completed transactions. The resulting differential tax and consequential penalty were therefore unsustainable, and excess tax was to be refunded or adjusted in accordance with law. en-us Tue, 24 Feb 2015 00:00:00 +0530 Thu, 12 Jan 2017 11:19:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189537 Dealers who had validly opted for compounding under the Kerala Value Added Tax Act before the Kerala Finance Act, 2011 came into force could not be reopened to a higher tax burden. Once the compounding option was accepted, either expressly or by conduct such as filing returns and paying tax under the existing regime, the liability for that year attained finality. The validation clause in Section 12 of the Kerala Finance Act, 2011 protected acts done and tax collected during the relevant period, but did not authorise fresh demands for differential tax on completed transactions. The resulting differential tax and consequential penalty were therefore unsustainable, and excess tax was to be refunded or adjusted in accordance with law. Case-Laws VAT and Sales Tax Tue, 24 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189537