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2022 (4) TMI 55 - GUJARAT HIGH COURTRefund of IGST paid on exports alongwith statutory interest - exports made for the month of September 2018 - refund was withheld on account of large difference between the FOB value and the IGST taxable value in the shipping bill - HELD THAT:- The writ-applicant offered satisfactory explanation to the authorities concerned pointing out that the Circular dated 17.06.2019, upon which, the Department was placing reliance, was not applicable having regard to the facts of the case - Ultimately, the refund amount was credited in the account of the writ-applicant on 17.01.2022 i.e. during the pendency of the present writ-application. Statutory interest to be paid on the delayed refund amount - Section 56 of the CGST Act, 2017 - HELD THAT:- The plain reading of Section 56 of the Act would indicate that if any tax, which is ordered to be refunded under Sub-section (5) of Section 54 to any applicant, is not refunded within sixty days from the date of receipt of the application under Sub-section (1) of that section, interest at the rate not exceeding 6% [six percent] shall be payable in respect of such refund from the date immediately after the expiry of sixty days from the date of receipt of application under Sub-section (5) of Section 54 of the Act. The writ-applicant herein is entitled to interest on the delayed payment towards refund at the rate of 6% [six percent] as provided under Section 56 of the Act - this writ-application is disposed off with a direction to the authorities concerned to calculate the amount towards interest towards the delayed refund amount in accordance with the provisions of Section 56 of the Act.
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