https://www.taxtmi.com/caselaws?id=342758 The SC upheld the retrospective amendment to Section 93 of the Maharashtra Value Added Tax Act, 2002 and the validating provision, holding that it cured the defect in the earlier incentive scheme by placing the proportionality formula in the statute. The amendment did not impose a fresh levy; it gave statutory effect to the pre-existing legislative intent that incentives apply only to turnover attributable to expansion or additional investment. A competent legislature may retrospectively amend and validate fiscal law by removing the basis of prior invalidity, and the challenges based on Articles 14 and 19(1)(g), vested rights, promissory estoppel, and inability to pass on tax failed. en-us Mon, 08 May 2017 00:00:00 +0530 Sat, 24 Mar 2018 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342758 The SC upheld the retrospective amendment to Section 93 of the Maharashtra Value Added Tax Act, 2002 and the validating provision, holding that it cured the defect in the earlier incentive scheme by placing the proportionality formula in the statute. The amendment did not impose a fresh levy; it gave statutory effect to the pre-existing legislative intent that incentives apply only to turnover attributable to expansion or additional investment. A competent legislature may retrospectively amend and validate fiscal law by removing the basis of prior invalidity, and the challenges based on Articles 14 and 19(1)(g), vested rights, promissory estoppel, and inability to pass on tax failed. Case-Laws VAT and Sales Tax Mon, 08 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342758