https://www.taxtmi.com/caselaws?id=380722 The High Court directed reconsideration of interest payment at 24% per annum as per statutory provisions under Section 55 of the Jammu & Kashmir Value Added Tax Act, 2005. It emphasized the correct application of interest rates, criticizing the Commissioner's erroneous approach. The Court set aside the Commissioner's order and instructed a recalculation of interest payable to the petitioner based on the correct legal provisions and relevant dates, ensuring compliance with the law regarding refund timelines and interest rates. en-us Wed, 17 Oct 2018 00:00:00 +0530 Tue, 28 May 2019 07:29:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380722 The High Court directed reconsideration of interest payment at 24% per annum as per statutory provisions under Section 55 of the Jammu & Kashmir Value Added Tax Act, 2005. It emphasized the correct application of interest rates, criticizing the Commissioner's erroneous approach. The Court set aside the Commissioner's order and instructed a recalculation of interest payable to the petitioner based on the correct legal provisions and relevant dates, ensuring compliance with the law regarding refund timelines and interest rates. Case-Laws VAT and Sales Tax Wed, 17 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380722