https://www.taxtmi.com/caselaws?id=466694 Orders reducing statutory interest under the Central Goods and Services Tax Act were found to lack recorded reasons and a demonstrated method of calculation required by Section 56; the court declined to recalculate but held the authorities must apply the statutory rate and prescribed manner and directed a fresh determination after hearing the petitioner within 30 days. The impugned interest determinations are set aside and remitted for reconsideration strictly in accordance with Section 56 and the binding directions of the court, producing a result favourable to the assessee on the interest issue. en-us Tue, 11 Feb 2025 00:00:00 +0530 Mon, 16 Feb 2026 20:10:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466694 Orders reducing statutory interest under the Central Goods and Services Tax Act were found to lack recorded reasons and a demonstrated method of calculation required by Section 56; the court declined to recalculate but held the authorities must apply the statutory rate and prescribed manner and directed a fresh determination after hearing the petitioner within 30 days. The impugned interest determinations are set aside and remitted for reconsideration strictly in accordance with Section 56 and the binding directions of the court, producing a result favourable to the assessee on the interest issue. Case-Laws GST Tue, 11 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466694