Section 7 of Karnataka Value Added Tax Act, 2011

Amendment of section 40.- In section 40 of the principal Act,-

(i) in sub-section (1),-
(a) in clause (a), for the words “five years”, the words “four years” shall be substituted;
(b) the following proviso shall be inserted at the end, namely:-
“Provided that an assessment or re-assessment relating to any tax period ending 31st day of

March, 2007 shall be made within a period of five years after the end of the prescribed tax period.”

(ii) in sub-section (2), for the words “five years was a reference to ten years”, the words “four

years was a reference to eight years” shall be substituted.