https://www.taxtmi.com/caselaws?id=164724 Excess input tax retained beyond the period permitted under the Karnataka Value Added Tax Act, 2003 had to be refunded with interest under section 50 read with rule 128. The Karnataka HC noted that the Department was entitled to retain only tax lawfully due and consequential amounts, and could not keep the excess or the interest collected from the seller on the refunded sum. On that basis, delayed refund attracted statutory interest, and refusal to pay such interest was not sustainable. en-us Tue, 06 Oct 2009 00:00:00 +0530 Tue, 29 Apr 2014 17:23:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164724 Excess input tax retained beyond the period permitted under the Karnataka Value Added Tax Act, 2003 had to be refunded with interest under section 50 read with rule 128. The Karnataka HC noted that the Department was entitled to retain only tax lawfully due and consequential amounts, and could not keep the excess or the interest collected from the seller on the refunded sum. On that basis, delayed refund attracted statutory interest, and refusal to pay such interest was not sustainable. Case-Laws VAT and Sales Tax Tue, 06 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164724