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VAT - Highlights / Catch Notes

Home Highlights February 2020 Year 2020 This

Refund of Amount unauthorisedly deducted as tax under VAT - ...


High Court rules VAT refund in Indian Rupees; company to cover exchange rate losses on USD fluctuations.

February 25, 2020

Case Laws     VAT and Sales Tax     HC

Refund of Amount unauthorisedly deducted as tax under VAT - Whether the amount should be in U.S. Dollars or in Rupees? - TDS due to wrong interpretation by ONGS - Refund will be in INR, however, ONGC will pay difference due to fluctuation in the Dollar vis-a-vis Indian Rupee - HC

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