2022 (1) TMI 904 - SCH - GST

Rate of interest - in terms of the statute, the liability to pay interest would be at such rate not exceeding 6 per cent as may be specified in the notification - It is submitted that the High Court was not, therefore, justified in awarding interest at the rate of 9 per cent per annum - HELD THAT - The liability to pay the interest @ 6 per cent per annum having not been disputed, the petitioner(s) shall refund the entire amount due to the respondent along with interest @ 6 per cent per annum within seven days from today. In case the affidavit is not filed within the stipulated period, the Special Leave Petitions shall stand dismissed without further reference to the Court.

Summary

The Supreme Court of India ordered the petitioner(s) to refund the amount due to the respondent with interest at 6% per annum within seven days. Failure to do so would result in the dismissal of the Special Leave Petitions.