Appellant is entitled to interest from the date of deposit to the date of refund

Last updated: 12 November 2022

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Quick Summary

The CESTAT has ruled that an importer, M/s BBM Impex Pvt. Limited, is entitled to receive interest on a pre-deposited customs duty amount. The company had paid Rs. 13,50,000 for provisional release of goods. Although their appeal against the duty confirmation was successful, the refund only included the principal amount, with interest being denied. The CESTAT, referencing a Supreme Court decision, confirmed the appellant's right to interest from the date of deposit until the date the refund was issued.

Court :
CESTAT, New Delhi

Brief :
The CESTAT, New Delhi in the matter of M/s BBM Impex Pvt. Limited v. Principal Commissioner of Customs (Preventive) [Customs Early Hearing Application No.50414 of 2022 with Customs Appeal No. 51662 of 2022-SM] has held that, the appellant is entitled to interest at specified rate from date of deposit to date of refund.

Citation :
[Customs Early Hearing Application No.50414 of 2022 with Customs Appeal No. 51662 of 2022-SM]

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

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Judgement posted by

Bimal Jain

Service

FCA, FCS LLB with21 Yrs of Experience inTaxation Indirect and Direct: Education Qualification: B.Com (Hons) Chartered Accountants Company Secretary LLB Qualified SAP FI/CO Consultants Professional Membership: Chairmanof Indirect Tax Committee of PHD Chamber of Commerce Member of Indirec ... Read more

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