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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Delayed Customs Refunds Now Earn Interest After 3 Months Under Section 129EE; Interest Rate As Per Section 27A.</h1> Section 129EE, introduced by the Finance Act, 2008, amends the Customs Act to mandate interest on delayed refunds. If an appellant deposits an amount as per an appellate authority's order under section 129E and it is not refunded within three months of the order's communication to the adjudicating authority, interest must be paid at the rate specified in section 27A. This applies unless a superior court or tribunal stays the appellate authority's order. Interest accrues from the end of the three-month period until the refund is made.
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