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2019 (8) TMI 251 - AT - Central ExciseInterest on delayed refund - Rule 7(5) of the Central Excise Rules - HELD THAT:- A bare perusal of the aforesaid Rule 7(5) indicates that when the assessee is entitled to refund there shall be paid an interest on such refund at the rate specified by the Central Government by notification issued under section 11BB of the Act. Rule 7(5) is an independent provision relating to payment of interest in a case where an assessee is held entitled to a refund consequent to an order for final assessment when the duty determined under the final assessment is lesser than that determined under a provisional assessment. It is only the rate of interest that has to be specified by the Central Government by a Notification issued under section 11BB of the Act - the appellant was entitled for payment of interest at the rate specified in the Notification dated 12 September, 2003. It is not possible to sustain the view taken by the Commissioner (Appeals) - Appellants are held entitled to payment of interest at the rate specified in the notification from the first day of the month succeeding the month for which such refund was determined till the date of refund - Appeal allowed.
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