https://www.taxtmi.com/caselaws?id=423360 Compounding tax liability under Section 7-D of the U.P. Trade Tax Act is treated as a contractual lump-sum arrangement in lieu of actual tax, but the scheme did not fix the compounding fee at 22% of royalty for all assessment years. The State retained power to vary the rate under the proviso to Section 7-D, and in the absence of a statutory basis or an express scheme clause fixing the rate for the entire period, the claim for a permanent lower rate had no legal support. en-us Mon, 14 Feb 2022 00:00:00 +0530 Thu, 08 Sep 2022 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423360 Compounding tax liability under Section 7-D of the U.P. Trade Tax Act is treated as a contractual lump-sum arrangement in lieu of actual tax, but the scheme did not fix the compounding fee at 22% of royalty for all assessment years. The State retained power to vary the rate under the proviso to Section 7-D, and in the absence of a statutory basis or an express scheme clause fixing the rate for the entire period, the claim for a permanent lower rate had no legal support. Case-Laws VAT and Sales Tax Mon, 14 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423360