Intrest on delayed paymet of refunds

[Bipin Shah]

Intrest on delayed paynet of refunds we are getting. But the interest we got after delay of 3 years . Means our claim for interest on delayed payment of interest is permissioble to us or not as the interest on delayed payment is to be paid with in 3 months time.

[Mukesh Kumar]

There is no provision for payment of interest on interest. Therefore, you would not get any amount of interest on delayed payment of interest.

AI Summary

No Interest on Delayed Interest Payments Under Central Excise; Clarification on Refunds and Entitlements. A query was raised regarding the entitlement to interest on delayed refunds under Central Excise, specifically whether interest can be claimed on the delayed payment of interest itself. The response clarified that there is no provision allowing for the payment of interest on interest. Consequently, no additional interest would be granted for the delayed payment of the initial interest.