https://www.taxtmi.com/caselaws?id=376328 Interest is payable on delayed refund of accumulated CENVAT credit once the refund is sanctioned beyond the statutory period. The Bombay HC applied earlier decisions holding that, for exported services, delay in granting a sanctioned refund attracts interest as a matter of law on the delayed amount. The Revenue's objection that the petitioner's computation required separate scrutiny did not defeat the underlying entitlement to interest after sanction of the refund. The writ petition succeeded, and the respondents were directed to release the interest expeditiously. en-us Fri, 01 Mar 2019 00:00:00 +0530 Thu, 20 Jun 2019 14:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376328 Interest is payable on delayed refund of accumulated CENVAT credit once the refund is sanctioned beyond the statutory period. The Bombay HC applied earlier decisions holding that, for exported services, delay in granting a sanctioned refund attracts interest as a matter of law on the delayed amount. The Revenue's objection that the petitioner's computation required separate scrutiny did not defeat the underlying entitlement to interest after sanction of the refund. The writ petition succeeded, and the respondents were directed to release the interest expeditiously. Case-Laws Service Tax Fri, 01 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376328