https://www.taxtmi.com/caselaws?id=764134 Foreign-currency consideration received under a works contract retained its character as turnover when converted into Indian rupees, and exchange-rate fluctuation did not create a separate non-taxable receipt. After allowing deductions permitted under the Act and Rules, including amounts paid to the subcontractor on which tax had already been discharged, the balance was treated as differential turnover arising from the contract. The Kerala High Court held that the additional rupee realisation was part of taxable turnover under the Kerala General Sales Tax Act, and the levy on the exchange-fluctuation component was sustainable. en-us Wed, 04 Sep 2024 00:00:00 +0530 Tue, 03 Jun 2025 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764134 Foreign-currency consideration received under a works contract retained its character as turnover when converted into Indian rupees, and exchange-rate fluctuation did not create a separate non-taxable receipt. After allowing deductions permitted under the Act and Rules, including amounts paid to the subcontractor on which tax had already been discharged, the balance was treated as differential turnover arising from the contract. The Kerala High Court held that the additional rupee realisation was part of taxable turnover under the Kerala General Sales Tax Act, and the levy on the exchange-fluctuation component was sustainable. Case-Laws GST Wed, 04 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764134