Effect of the amendment - Retrospective or prospective - It may ...

VAT and Sales Tax

September 19, 2023

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 had been initiated under sub-section (1) of Section 25 to complete within the time-frame as stipulated in the said proviso. The amendment to the Kerala Finance Act, 2017 is with effect from 01.04.2017 and does not have any retrospective effect. - SC

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Effect of the amendment - Retrospective or prospective - It may ...

VAT and Sales Tax

September 19, 2023

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