https://www.taxtmi.com/caselaws?id=395766 The 2014 substitution of Section 8(f) of the Kerala Value Added Tax Act was treated as a fresh amendment, not a mere clarification, so it was not applied retrospectively to earlier assessment years. In the compounding scheme, exclusion of branch turnover was available only within the limited conditions stated in the provision then in force, and later relief for closure during the option year could not be imported into prior years. The commentary emphasises that compounding is a voluntary assessment method and its computation must be applied as enacted for the relevant year, without borrowing benefits from subsequent amendments or from regular-assessment outcomes. en-us Fri, 05 Jun 2020 00:00:00 +0530 Sat, 06 Jun 2020 10:54:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395766 The 2014 substitution of Section 8(f) of the Kerala Value Added Tax Act was treated as a fresh amendment, not a mere clarification, so it was not applied retrospectively to earlier assessment years. In the compounding scheme, exclusion of branch turnover was available only within the limited conditions stated in the provision then in force, and later relief for closure during the option year could not be imported into prior years. The commentary emphasises that compounding is a voluntary assessment method and its computation must be applied as enacted for the relevant year, without borrowing benefits from subsequent amendments or from regular-assessment outcomes. Case-Laws VAT and Sales Tax Fri, 05 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395766