https://www.taxtmi.com/caselaws?id=274231 An assessee that has elected to pay tax by compounding under the Kerala Value Added Tax Act cannot later withdraw that election and seek exemption for subsequent periods merely because commercial production or sales have stopped. The text states that the compounding option had already been exercised and tax paid for the relevant year, and that the settled position prevents retraction of the election after demand is issued. The stoppage of operations did not create a fresh entitlement to exemption for the remaining quarters, so the exemption request was treated as not maintainable. en-us Wed, 26 Jul 2017 00:00:00 +0530 Fri, 03 Aug 2018 07:56:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274231 An assessee that has elected to pay tax by compounding under the Kerala Value Added Tax Act cannot later withdraw that election and seek exemption for subsequent periods merely because commercial production or sales have stopped. The text states that the compounding option had already been exercised and tax paid for the relevant year, and that the settled position prevents retraction of the election after demand is issued. The stoppage of operations did not create a fresh entitlement to exemption for the remaining quarters, so the exemption request was treated as not maintainable. Case-Laws VAT and Sales Tax Wed, 26 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274231