Relief to Indian Oil Corporation: Madras HC Quashes VAT Orders Reversing ITC [Read Order]

Indian Oil Corporation - Madras HighCourt - VAT Orders - Reversing ITC - VAT - ITC - taxscan

In a major relief to the Indian Oil Corporation, the Madras High Court has set aside the orders of the VAT department reversing input tax credit (ITC). The petitioners, Indian Oil Corporation had purchased Petroleum products, such as Motor Spirit (petrol), High Speed Diesel oil (HSD), furnace oil, Low Sulphur Heavy Stock (LSHS), Bitumen and…

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