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Refund of additional IGST paid on export of goods due to variation of rates in London Metal Exchange.

Export — The petitioner Company exported goods shipping bills and duly paid the IGST. While so, due to variation of rates in London Metal Exchange, the prices were revised. The petitioner Company paid tax on the differential export value to the tune of Rs.2,02,94,956. The petitioner claimed refund of Rs.94,42,39,026/- along with the additional tax paid due to variation of rates in London Metal Exchange to the tune of Rs.2,02,94,956/-. The respondents refunded Rs. 94,42,39,026/- but not refund the balance amount of Rs.2,02,94,956/-.When there is no provision in the electronically managed system, they should have visualized the situation prior to its introduction to do away with these anomalies and provided solution to the same.  Direction given to the respondents to refund the additional IGST paid by the petitioner to the tune of Rs.2,02,94,956/- — Vedanta Limited Vs. The Commissioner of Customs (Drawback) , The Goods And Services Tax Network, The GST Council, The Central Board of Indirect Taxes And Customs [2019] 17 TAXLOK.COM 100 (Madras)