TMI BlogEffect of the amendment - Retrospective or prospective - It may be clarified that the expression...Effect of the amendment - Retrospective or prospective - It may be clarified that the expression “proceed to determine” is found in the amendment made to the KVAT Act with effect from 2017 Finance Act, whereas in the earlier amendment, the expression clearly was to “complete the assessment” in the third proviso of sub-section (1) of Section 25 which is also a clear indication of the intention of the Legislature to give a command to the concerned assessing officers seized of the proceedings which..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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