https://www.taxtmi.com/caselaws?id=415111 Retrospective amendment of the compounded tax rate for gold and ornaments dealers under the Kerala Value Added Tax Act was held to validly authorise recovery of differential tax for the relevant period, because a competent legislature may impose tax retrospectively and the earlier compounding acceptance did not bar recovery under the amended provision. The validation clause in section 12 of the Kerala Finance Act, 2011 was read as curing defects arising from the lapse of the first Bill and the interregnum, not as limiting the retrospective operation of the later taxing enactment. The demand for differential tax was therefore upheld and the dealers remained liable. en-us Fri, 06 Aug 2021 00:00:00 +0530 Fri, 13 Oct 2023 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415111 Retrospective amendment of the compounded tax rate for gold and ornaments dealers under the Kerala Value Added Tax Act was held to validly authorise recovery of differential tax for the relevant period, because a competent legislature may impose tax retrospectively and the earlier compounding acceptance did not bar recovery under the amended provision. The validation clause in section 12 of the Kerala Finance Act, 2011 was read as curing defects arising from the lapse of the first Bill and the interregnum, not as limiting the retrospective operation of the later taxing enactment. The demand for differential tax was therefore upheld and the dealers remained liable. Case-Laws VAT and Sales Tax Fri, 06 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415111