Interest on delayed refund is permissible from expiry of 3 months’ from the date of filing of Refund application and not from the date of Refund Order
Court :
Hon’ble CESTAT, Ahmedabad
Brief :
The Hon’ble CESTAT, Ahmedabad relying upon the decision in the Ranbaxy Laboratory case held that under Section 11BB of the Excise Act, there is no provision that relevant date for determining the rate of interest will be postponed in any eventuality. As per these provisions, interest payment accrues from the expiry of 3 months from the date of Refund application made under Section 11B(1) of the Excise Act. Thus, the Appellant is rightly entitled for interest on delayed Refund from the date of filing of refund applications till the date of payment.
Citation :
Tata Chemicals Ltd. Vs. Commissioner of Central Excise, Rajkot [2015-TIOL-240-CESTAT-AHM}
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Bimal Jain
Published in Excise
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