https://www.taxtmi.com/forum/issue?id=118492 Section 11BB authorises a government-prescribed interest rate on delayed central excise refunds; the rate has been fixed by notification. Interest is payable from the expiry of the prescribed period after receipt of the refund claim (not from the date of a court order). Parties may also seek penal interest and costs in proceedings, but statutory interest and its commencement are governed by the Act, notification and relevant judicial interpretation. en-us Thu, 20 Apr 2023 19:52:58 +0530 Thu, 23 Jan 2025 15:54:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118492 Section 11BB authorises a government-prescribed interest rate on delayed central excise refunds; the rate has been fixed by notification. Interest is payable from the expiry of the prescribed period after receipt of the refund claim (not from the date of a court order). Parties may also seek penal interest and costs in proceedings, but statutory interest and its commencement are governed by the Act, notification and relevant judicial interpretation. Discussion-Forum Central Excise Thu, 20 Apr 2023 19:52:58 +0530 https://www.taxtmi.com/forum/issue?id=118492