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<h1>High Court Upholds 6% Interest Rate on Refunds under Central Excise Act</h1> The Bombay HC dismissed a petition challenging the payment of interest at 6% on a refund amount under Section 11BB of the Central Excise Act, 1944. The ... Interest on delayed refund - Rate of interest - Department is paying interest @ 6% on the refund amount as per Section 11BB of Central Excise Act, 1944. According to the petitioner, the refund must be paid with interest @ 13% as per Notification No. 66/2003-C.E.(N.T.) dated 12-9-2003 - The said Notification deals with the interest payable by a party to the revenue and not other way round - Petition is dismissed The Bombay High Court dismissed a petition challenging the payment of interest at 6% on a refund amount under Section 11BB of the Central Excise Act, 1944. The petitioner argued for interest at 13% as per Notification No. 66/2003-C.E.(N.T.). The court cited a previous Supreme Court case and rejected the petition with no costs.
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