https://www.taxtmi.com/caselaws?id=354776 A dealer already paying tax under a compounded scheme and filing Form K returns was treated as having validly exercised the option for that scheme. The Madras High Court noted that the 2008 amendment introducing a fresh option requirement came into force midway through the financial year and could not be applied retrospectively to unsettle an arrangement already acted upon. On those facts, filing Form K was sufficient indication of the scheme option, so the attempt to shift the turnover to the regular rate was not sustained. en-us Mon, 18 Dec 2017 00:00:00 +0530 Mon, 05 Feb 2018 07:05:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354776 A dealer already paying tax under a compounded scheme and filing Form K returns was treated as having validly exercised the option for that scheme. The Madras High Court noted that the 2008 amendment introducing a fresh option requirement came into force midway through the financial year and could not be applied retrospectively to unsettle an arrangement already acted upon. On those facts, filing Form K was sufficient indication of the scheme option, so the attempt to shift the turnover to the regular rate was not sustained. Case-Laws VAT and Sales Tax Mon, 18 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354776