https://www.taxtmi.com/caselaws?id=278623 The commentary explains that a fiscal amendment to a compounding tax provision was treated as operative for the notified financial year under the Provisional Collection of Revenues framework, including the deletion of a proviso by erratum. It states that dealers who had elected compounding and obtained acceptance remained bound by the amended statutory rate, and the assessing officer could revise an earlier demand to recover differential tax where the original demand did not reflect the amended provision. It also clarifies that compounded tax is a composite levy covering both sales and purchase tax components, so no separate exclusion or exemption for the purchase-tax element is available within the compounding scheme. en-us Mon, 16 Dec 2002 00:00:00 +0530 Thu, 14 Feb 2019 13:19:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278623 The commentary explains that a fiscal amendment to a compounding tax provision was treated as operative for the notified financial year under the Provisional Collection of Revenues framework, including the deletion of a proviso by erratum. It states that dealers who had elected compounding and obtained acceptance remained bound by the amended statutory rate, and the assessing officer could revise an earlier demand to recover differential tax where the original demand did not reflect the amended provision. It also clarifies that compounded tax is a composite levy covering both sales and purchase tax components, so no separate exclusion or exemption for the purchase-tax element is available within the compounding scheme. Case-Laws VAT and Sales Tax Mon, 16 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278623