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GST - INTEREST ON REFUND OF PRE-DEPOSIT

Goods and Services Tax - GST - By: - Pradeep Jain - Dated:- 15-2-2017 - GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN SECTION 104 INTEREST ON REFUND OF PRE-DEPOSIT:- This section pertains to refund on mandatory pre-deposit made at first appellate authority and tribunal. This section states that where an amount deposited by the appellant under sub-section (6) of section 98 or under sub-section (9) of section 101 is required to be refunded consequent to any order of the First Appellate Authority o .....

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also amended so as to grant interest on refund of pre-deposit from the date of payment to the actual sanction of refund. However, if prior to 06.08.2014, the provisions were different and not beneficial to the assessees. Section 35FF of the Central Excise Act, 1944 for the period prior to 06.08.2014 provided that in case of refund of pre-deposit, if the refund is not sanctioned to the assessee within 3 months from the date of receipt of refund application, the interest is to be paid to the asses .....

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