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2022 (8) TMI 213 - HC - GSTClaim of interest on delayed Refund - the only reason the respondents/revenue have denied grant of statutory interest to the petitioner, is because Covid-19 was raging and there was delay in processing the petitioner’s refund - Section 56 of the Central Goods and Services Tax Act, 2017 - HELD THAT:- What has emerged from the record, and something which is not disputed, is that the petitioner did file an application for refund on 20.07.2021, the principal amount towards refund was released in two tranches; first one amounting to Rs.14,22,482/- was released in and about 04.01.2022, and the second tranche amounting Rs.11,07,462/- was released in and about 22.03.2022. The statutory rate of interest is pegged at 6%. The said interest gets triggered after the expiry of 60 days from the date of receipt of application for refund. The interest is payable to the petitioner. The respondents/revenue are directed to pay to the petitioner at the statutory rate as prescribed in Section 56 of the Act - the statutory rate of interest provided under Section 56 of the Act is a compensation for use of money. The writ petition is disposed of.
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