Appellant to Receive 12% Interest on Delayed Refund from February 2008, CESTAT Upholds, Citing Supreme Court Precedent.

Appellant to Receive 12% Interest on Delayed Refund from February 2008, CESTAT Upholds, Citing Supreme Court Precedent. https://www.taxtmi.com/highlights?id=84733 The appellant is eligible for interest on delayed refund from 22.02.2008 till the refund payment date, calculated at 12% per annum rate. CESTAT allowed the appeal, directing interest payment within 8 weeks from order communication. The relevant date for interest computation is 3 months from refund claim filing, not refund order date as per SC precedent in Ranbaxy case. Interest rate of 12% is based on Allahabad CESTAT's Parle Agro judgment interpreting Section 11BB. en-us Fri, 10 Jan 2025 08:57:38 +0530 Fri, 10 Jan 2025 08:57:38 +0530 TaxTMI RSS Generator Appellant to Receive 12% Interest on Delayed Refund from February 2008, CESTAT Upholds, Citing Supreme Court Precedent. https://www.taxtmi.com/highlights?id=84733 The appellant is eligible for interest on delayed refund from 22.02.2008 till the refund payment date, calculated at 12% per annum rate. CESTAT allowed the appeal, directing interest payment within 8 weeks from order communication. The relevant date for interest computation is 3 months from refund claim filing, not refund order date as per SC precedent in Ranbaxy case. Interest rate of 12% is based on Allahabad CESTAT's Parle Agro judgment interpreting Section 11BB. Highlights Service Tax Fri, 10 Jan 2025 08:57:38 +0530 https://www.taxtmi.com/highlights?id=84733