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[Cites 0, Cited by 0] [Section 7(2)] [Section 7] [Entire Act]

State of Kerala - Subsection

Section 7(2)(vii) in Kerala Finance Act, 2007

(vii)Notwithstanding anything contained in sub-clause (ii) of clause (f) where a dealer who has started business during the year 2005-2006 has become ineligible for paying tax at compounded rates on account of excess of input tax credit over output tax payable by such dealer during that period, such dealer may, at his option, instead of paying tax in accordance with provisions of section 6, pay tax at the compounded rate per month from the 1st day of April, 2006 at one hundred and fifty per cent of the average monthly tax paid or payable under the Act from 1st day of April, 2006 to 30th day of September, 2006;