Jharkhand HC Directs 6% Interest on JVAT Refunds Delayed Beyond 90 Days

Castrol India Limited Vs State of Jharkhand (Jharkhand High Court) In the case of Castrol India Limited vs. State of Jharkhand, the Jharkhand High Court addressed a dispute concerning delayed VAT refund payments under the Jharkhand Value Added Tax (JVAT) Act, 2005. Castrol India filed a writ petition seeking the refund of ₹1,47,62,037 for the Assessment Year 2011-12, along with statutory interest under Section 55 of the JVAT Act. The refund claim arose after reassessment proceedings reduced Castrol’s tax liability, and an excess tax payment was acknowledged by the Department in an official...