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2020 (8) TMI 339 - HC - VAT and Sales TaxLevy of tax at the rate of 12.5% on the entire taxable turn over - reversal of the Input Tax Credit - benefit of presumptive tax scheme - petitioner is eligible for the assessment under Section 3 (4) (b) of the Tamil Nadu Value Added Tax Act - HELD THAT:- The amendment to Section 3(4) of the TNVAT Act would have to be applied retrospectively - The revised assessment order giving a prospective effect to Section 3 (4) b from 01.04.2012, may not be correct. Accordingly, the proceedings itself requires to be reconsidered by the respondent. The impugned order of the respondent is hereby set aside and the matter is remanded back to the respondent for fresh consideration - Petition allowed by way of remand.
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