2023 (4) TMI 724

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.... P.C.: Heard the learned Counsel for the parties. Taken up for disposal. 2. The Petitioner has applied for interest on delayed refund of drawback which is rejected by the impugned communications. Hence, the Petitioner is before is. 3. The Petitioner is a private limited company engaged in the business of export of readymade garment. The Petitioner had exported goods and, according to the....

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....f information/ reply of queries in respect of two shipping bills and there was no delay. According to the Petitioner, even assuming that this reason is to be accepted, which is cannot be, there is no discussion whatsoever regarding delayed payment in respect of other 15 shipping bills and the impugned communication is silent regarding same. 5. Section 75A of the Act of 1962 reads thus: ....

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....nt of interest shall be calculated for the period beginning from the date of payment of such drawback to the claimant till the date of recovery of such drawback". Therefore, when a drawback payable to the claimant under section 75A of the Act of 1962 is not paid within the stipulated period therein, then interest at the rate fixed under section 27A from the date after the expiry of the said per....