9911796707
TMI BlogRefund of pre-depositX X X X Extracts X X X X X X X X Extracts X X X X ..... Refund of pre-deposit X X X X Extracts X X X X X X X X Extracts X X X X ..... t payable by the department on refund of pre deposit of this service tax? Reply By KASTURI SETHI: The Reply: Interest @ 6% per annum fixed for delayed refund of pre-deposit under Section 35FF of Central Excise Act, 1944 In exercise of powers conferred by section 35FF of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby fixes the rate of interest at six percent per annum f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the purpose of the said Section. [Notification No. 24/2014-C.E. (N.T.), dated 12-8-2014] Section 35 FF of Central Excise Act, 1944 was made applicable to Service Tax law (Finance Act,1994) vide Section 83 of the Finance Act, 1994. Reply By ABHISHEK TRIPATHI: The Reply: We say 12% and the department says 6%. Reply By KASTURI SETHI: The Reply: CESTAT Ahmedabad vide order dated 7.3.23 in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of Hasmukh Tobacco Products Vs. CCE & ST - 2023 (2) TMI 774 - CESTAT AHMEDABAD, Ahmedabad has held that the interest on refund of pre-deposit is from the date of deposit. "In view of the above judgments, it is settled that the appellant are entitled for the interest on refund of pre-deposit amount @6% from the date of deposit till the date of refund. Accordingly, the impugned orders a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re set-aside, appeals are allowed with consequential relief. Reply By KASTURI SETHI: The Reply: Dear Sir, What is the basis of 12 % ? Pl. inform for enrichment of my knowledge. Reply By ABHISHEK TRIPATHI: The Reply: That is an excellent explanation by learned senior. Querist stated 2013, hence, this 6% will be applicable to him also. Kindly enlighten us !! Reply By KASTURI SETHI: The Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : Dear Sir, May I ask to whom are you addressing at serial no.5 above ? Reply By KASTURI SETHI: The Reply: Dear Querist, There are instances wherein a penalty of 9% interest is imposed for delayed refund. If any Court orders for imposition interest at the rate of higher than prescribed rate that is penalty in the form of enhanced rate of interest. Such penalty does not disturb the rate of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest prescribed in the Act.
Such case laws are easily traceable on google or any website i.e TMI etc. X X X X Extracts X X X X X X X X Extracts X X X X
|
