1. The petitioners in all these writ petitions are dealers in gold and jewellery, who had opted to pay tax at compounded rates under Section 8(f) of the Kerala Value Added Tax Act, 2003 [for short, 'KVAT Act'] during the assessment year 2011 - 2012. During the year in question, the provisions of Section 8(f) were amended and the issue involved in these writ petitions is with regard to the effect the said amendment had on the option for compounding exercised by the petitioners. It would be apposite, therefore, to first notice the statutory provisions as they stood during the assessment year 2011 - 2012. The provisions of Section 8(f) as they stood on 01.04.2011 were as follows:

“8. Payment of tax at compounded rates:

(f) [(i) any dealer in ornaments or wares or articles of gold, silver or platinum group metals including diamond may at his option, instead of paying tax in respect of such goods in accordance with the provisions of section 6, pay tax at, -

(a) one hundred and fifteen per cent, in case their annual turnover for the above goods for the preceding year was rupees ten