https://www.taxtmi.com/caselaws?id=161822 Interest on refundable sales tax deposits under section 14-C was to be computed by reading the court's directions with the governing statutory refund scheme. For the first deposit of Rs. 50,00,000, the earlier order required interest from the date of deposit, so the pre-amendment statutory rates of 18% for the first ninety days and 24% thereafter applied from that date. For the further deposit of Rs. 25,00,000, the later order contained no specific commencement direction, so interest ran from the date of the refund application at the same statutory rates. The refundable deposits therefore had to be recalculated accordingly. en-us Tue, 09 Oct 2001 00:00:00 +0530 Fri, 07 Feb 2014 14:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161822 Interest on refundable sales tax deposits under section 14-C was to be computed by reading the court's directions with the governing statutory refund scheme. For the first deposit of Rs. 50,00,000, the earlier order required interest from the date of deposit, so the pre-amendment statutory rates of 18% for the first ninety days and 24% thereafter applied from that date. For the further deposit of Rs. 25,00,000, the later order contained no specific commencement direction, so interest ran from the date of the refund application at the same statutory rates. The refundable deposits therefore had to be recalculated accordingly. Case-Laws VAT and Sales Tax Tue, 09 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161822