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2023 (7) TMI 950 - CESTAT NEW DELHIInterest on refund of retention of rebate claim - Earlier recovery of interest made from the Rebate claim on exports - entitlement for interest for the intervening period - HELD THAT:- The said issue has come up before this Tribunal in several cases. In the case of Riba Textile Ltd [2020 (2) TMI 602 - CESTAT CHANDIGARH] where this Tribunal observed the appellants are entitled to claim interest from the date of payment of initial amount till the date its refund @ 12% per annum. The said order has been affirmed by Hon’ble Punjab & Haryana High Court [2022 (3) TMI 693 - PUNJAB & HARYANA HIGH COURT], therefore it is held that the appellant is entitled to claim interest i.e. from the date of sanctioning of the rebate claim i.e. 4.02.2016 and 12.03.2016 for Rs. 36,98,880/- and Rs. 6,97,904/- respectively till the date of sanctioning of their rebate claim i.e. 31.03.2021 and 10.06.2021 respectively. It is pertinent to mentioning that the appellant is entitled to interest @ 12% P.A. as held by this Tribunal in the case of Parle Agro Pvt Ltd [2021 (5) TMI 870 - CESTAT ALLAHABAD]. Appeal disposed off.
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