The High Court quashed the impugned orders denying refund ...

Refund denied if export proceeds realized in INR via non-resident Vostro bank account outside ACU/Nepal/Bhutan.

December 4, 2024

Case Laws     GST     HC

The High Court quashed the impugned orders denying refund application, based on the respondents' clarification that refund would not be denied if export proceeds are realized in Indian Rupees routed through a non-resident bank's freely convertible Vostro account outside the Asian Clearing Union or Nepal and Bhutan. However, the respondents contended that the applicability of the clarificatory circular to all exports or specific commodities required examination, and this aspect was kept open for verification by the respondents.

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