https://www.taxtmi.com/caselaws?id=389124 A composition certificate under the Karnataka Value Added Tax regime, once issued and acted upon by both the dealer and the authorities, cannot be cancelled retrospectively to reopen completed periods. The composition scheme is optional and beneficial, but any withdrawal or cancellation can operate only prospectively from the relevant default period; it cannot unsettle past transactions completed while the certificate remained valid. Because the reassessment notice was founded entirely on the impermissible retrospective cancellation, it lacked a valid basis and could not survive. The impugned cancellation order and the consequential reassessment notice were therefore set aside. en-us Wed, 13 Nov 2019 00:00:00 +0530 Mon, 02 Dec 2019 12:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389124 A composition certificate under the Karnataka Value Added Tax regime, once issued and acted upon by both the dealer and the authorities, cannot be cancelled retrospectively to reopen completed periods. The composition scheme is optional and beneficial, but any withdrawal or cancellation can operate only prospectively from the relevant default period; it cannot unsettle past transactions completed while the certificate remained valid. Because the reassessment notice was founded entirely on the impermissible retrospective cancellation, it lacked a valid basis and could not survive. The impugned cancellation order and the consequential reassessment notice were therefore set aside. Case-Laws VAT and Sales Tax Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389124