High Court rules for IGST refund valuation based on invoice value. Lower value of invoice and shipping bill is to be refunded.
Case-Laws
GST
The High Court addressed the valuation of goods for calculating Integrated Goods and Services Tax (IGST) refund. The court held that the rules do not specify considering only the net realisation value; the value declared in the GST Invoice, in this case, USD 224846.75, should be used for the refund calculation. If there is a value mismatch with the
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