https://www.taxtmi.com/caselaws?id=334005 The Appellate Tribunal CESTAT Bangalore held that the appellant, a bank providing financial services, was entitled to interest on a delayed refund claimed for service tax paid on credit card transactions. Relying on the Supreme Court decision in Ranbaxy Laboratories Ltd. vs. UOI & Ors., the Tribunal determined that interest under Section 11BB of the Central Excise Act, 1944, accrues if the duty refund is not processed within three months from the refund application. Consequently, the Tribunal allowed the appeal, granting the appellant interest on the delayed refund payment as per the statutory provisions and legal precedent. en-us Fri, 21 Oct 2016 00:00:00 +0530 Sat, 29 Oct 2016 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334005 The Appellate Tribunal CESTAT Bangalore held that the appellant, a bank providing financial services, was entitled to interest on a delayed refund claimed for service tax paid on credit card transactions. Relying on the Supreme Court decision in Ranbaxy Laboratories Ltd. vs. UOI & Ors., the Tribunal determined that interest under Section 11BB of the Central Excise Act, 1944, accrues if the duty refund is not processed within three months from the refund application. Consequently, the Tribunal allowed the appeal, granting the appellant interest on the delayed refund payment as per the statutory provisions and legal precedent. Case-Laws Service Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334005