Financial and administrative powers of President Section 114 & interest on refund of amount paid for admission of appeal [ Section 115 ] - GST Ready Reckoner - GST

Financial and administrative powers of President As per section 114 The President shall exercise such financial and administrative powers over Appellate Tribunal as may be prescribed (Omitted by F.A. 2023 w.e.f 01.08.2023 ) Delegation of financial administrative Powers to members of National Bench and Regional Benches, The President is empowered to delegate his financial and administrative powers to any other Member or any officer of the National Bench and Regional Benches, on a condition that such Member or officer shall continue to act under the direction, control and supervision of the President while exercising such delegated powers. INTEREST ON REFUND OF AMOUNT PAID FOR ADMISSION OF APPEAL ( section 115 ) interest on refund at the rate specified ( under section 56 ) Where an amount paid by the appellant under section 107(6) or section 112(8) is required to be refunded consequent to any order of the Appellate Authority or of the Appellate Tribunal, interest at the rate specified under section 56 shall be payable in respect of such refund from the date of payment of the amount till the date of refund of such amount Note : Section 56 states If any tax ordered to be refunded to any applicant is not refunded within sixty days from the date of receipt of application then interest at such rate not exceeding six percent rom the date of receipt of such application till the date of refund shall be payable.