As per industry sources, the Vodafone Group has filed an application with the government of India to settle its tax dispute under the retrospective law, agreeing to indemnify it against any future claims.
After the application is processed, the company would be issued Form 2, which is the next step that signals acceptance of the application and sets the stage for issuing the refund of the tax paid.
The government has to refund Rs 447 million to the Vodafone Group that it had collected as tax.
Earlier in August 2021, the Parliament had passed the Taxation Laws (Amendment) Bill, 2021. The bill seeks to do away with the retrospective tax provision.
