Delayed refund interest on customs deposit under section 129E applies until refund at government-notified rates. Interest is payable on delayed refund of an amount deposited by the appellant under section 129E when the amount has to be refunded consequent upon an appellate order. The rate is fixed by the Central Government by notification in the Official Gazette, subject to a minimum of five per cent. and a maximum of thirty-six per cent. per annum, and runs from the date of payment until the date of refund.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Delayed refund interest on customs deposit under section 129E applies until refund at government-notified rates.
Interest is payable on delayed refund of an amount deposited by the appellant under section 129E when the amount has to be refunded consequent upon an appellate order. The rate is fixed by the Central Government by notification in the Official Gazette, subject to a minimum of five per cent. and a maximum of thirty-six per cent. per annum, and runs from the date of payment until the date of refund.
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