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2012 (4) TMI 385 - AT - Central ExciseClaim of interest on refund as Rule 5 of CCR, 2002 - exported Copper Cathode and Copper Rods without payment of duty but under Letter of Undertaking in place of bond for period May 2002 to December 2002 and April 2001 to August 2001 - the assessee bought raw material Copper Anode from their sister concern - assessee claimed interest to be paid on the refund claim filed by them on 29.09.01 and 31.01.03 – Held that:- The refund has been ordered under Rule 5 of the Rules and there was a delay in sanctioning the refund the provisions of Section 11BB of the Act would clearly be attracted as rightly held by the Tribunal - entitlement to interest on delayed refund of Cenvat Credit arises - interest at the appropriate rate as provided under the law under Section 11BB will be payable to the appellant from and after 3 months of the date of refund claim filed by them and on the amount calculated on the reduced balances – against revenue
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