Flipkart wins against Karnataka tax dept; HC orders refund of Rs 16.11 crore deposit with interest

Share via:



The Karnataka High Court has ordered the commercial taxes department to refund Rs 16.11 crore to Flipkart India, which the ecommerce firm had deposited towards 70% pre-deposit of the total tax demand while challenging the tax assessment orders.

Justice SR Krishna Kumar at the high court, by a July judgement, the copy of which is available now, has also ordered the department to pay interest at the applicable rate to Flipkart India in cash on the entire deposit amount of Rs 23 crore from the date of deposit to the date of refund.

A long-drawn dispute…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Flipkart wins against Karnataka tax dept; HC orders refund of Rs 16.11 crore deposit with interest



The Karnataka High Court has ordered the commercial taxes department to refund Rs 16.11 crore to Flipkart India, which the ecommerce firm had deposited towards 70% pre-deposit of the total tax demand while challenging the tax assessment orders.

Justice SR Krishna Kumar at the high court, by a July judgement, the copy of which is available now, has also ordered the department to pay interest at the applicable rate to Flipkart India in cash on the entire deposit amount of Rs 23 crore from the date of deposit to the date of refund.

A long-drawn dispute…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Oyo parent Prism gets shareholders’ nod for Rs 6,650...

Oyo parent Prism has received shareholders’ approval to...

Three months after skipping iPhone 17 Pro, I’m starting...

Three months ago, I chose the iPhone Air...

Web Components Are the Comeback Nobody Saw Coming

For years, web components have been the quiet...

Popular