Effect of omission of section 19(2)(v), the proviso and 19 (5) ...

VAT and Sales Tax

April 27, 2022

Effect of omission of section 19(2)(v), the proviso and 19 (5) (c) - Scope of the Budget Speech - statement of objects and reasons - As already seen, the original provision along with the proviso was omitted and a new provision was substituted. The word “retrospective” would mean “to look back” or “to go back in time”. A curative provision is held to be effective from a date prior to which it was enacted and so, will have a retrospective effect. - the amendment to Section 19 (2) brought about in the year 2015 is held to be curative in nature. - HC

View Source