delayed refund – OnlineTaxUpdate

Assessee is entitled to interest from the date immediately after the expiry of sixty days from the date of receipt of the GST refund application

byCA Bimal Jain26/03/202426/03/2024

The Hon’ble Delhi High Court, in the case of Raghav Ventures vs. Commissioner of Delhi [Writ Petition (Civil) No. 12209 of 2023 dated March 01, 2024], held that the payment of 6% interest under the Section 56 of the Central…

GST Article Supreme Court

Interest of 15% is allowed on delayed refund of deemed-export duty-drawback

byCA Bimal Jain19/02/202419/02/2024

The Hon’ble Supreme Court in the case of Union of India and Ors. v. M/s. B.T. Patil and Sons Belgaum (Construction) Pvt. Ltd. [Civil Appeal No. 7238 of 2009 dated February 05, 2024] upheld the decision of the Hon’ble Division…

GST Article High Court

Assessee is entitled for interest in case of delayed refund by Revenue Department

byCA Bimal Jain12/08/202312/08/2023

The Hon’ble Gujarat High Court in M/s. Panji Engineering Private Limited v. Union of India held that, disbursement of refund by department beyond the statutorily prescribed period, makes assessee entitle for interest on such refund amount.