https://www.taxtmi.com/caselaws?id=446800 The Tribunal rejected the appeal for interest on the refund of service tax deposited by M/s G.S. Promoters and Developers. Despite the appellants' request for a 12% interest rate from the date of deposit, the Tribunal upheld the statutory provisions under Section 11B/11BB of the Central Excise Act, 1944, which prescribe a 6% interest rate per annum. The Tribunal concluded that it cannot alter the statutory provisions regarding the date or rate of interest payable on refunds, affirming the Department's position. en-us Mon, 11 Dec 2023 00:00:00 +0530 Tue, 12 Dec 2023 09:02:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446800 The Tribunal rejected the appeal for interest on the refund of service tax deposited by M/s G.S. Promoters and Developers. Despite the appellants' request for a 12% interest rate from the date of deposit, the Tribunal upheld the statutory provisions under Section 11B/11BB of the Central Excise Act, 1944, which prescribe a 6% interest rate per annum. The Tribunal concluded that it cannot alter the statutory provisions regarding the date or rate of interest payable on refunds, affirming the Department's position. Case-Laws Service Tax Mon, 11 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446800