https://www.taxtmi.com/caselaws?id=395135 Under the KGST compounding scheme, compounded tax for a relevant year may be revised when the assessed tax of the immediately preceding year is later revised and that enhanced figure becomes the basis for computing tax across the three-year period. The binding Division Bench view noted that Section 7(b) is not confined to tax admitted in the return or accounts and does not bar reliance on the assessed tax of a prior year. Acceptance of compounded tax does not prevent departmental recomputation on that basis, and Section 43 rectification cannot be used to undo such revision absent only a patent computational error. en-us Thu, 30 Apr 2020 00:00:00 +0530 Wed, 06 Nov 2024 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395135 Under the KGST compounding scheme, compounded tax for a relevant year may be revised when the assessed tax of the immediately preceding year is later revised and that enhanced figure becomes the basis for computing tax across the three-year period. The binding Division Bench view noted that Section 7(b) is not confined to tax admitted in the return or accounts and does not bar reliance on the assessed tax of a prior year. Acceptance of compounded tax does not prevent departmental recomputation on that basis, and Section 43 rectification cannot be used to undo such revision absent only a patent computational error. Case-Laws VAT / Sales Tax Thu, 30 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395135