Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Customs - Highlights / Catch Notes

Home Highlights January 2025 Year 2025 This

CESTAT allowed appeal concerning export duty refund and interest ...


Customs Tribunal Awards 12% Interest on 14-Year Delayed Export Duty Refund u/s 27A and Section 154.

January 27, 2025

Case Laws     Customs     AT

CESTAT allowed appeal concerning export duty refund and interest payment on delayed refund. While appellant claimed provisional assessment, tribunal determined it was a case of final assessment requiring rectification u/s 154 of Customs Act. Revenue's 14-year delay in processing rectification warranted interest payment. Interest awarded at 12% per annum from January 11, 2011 (three months after original order-in-appeal dated October 11, 2010) until September 5/6, 2023 (refund date). Tribunal applied Ranbaxy and Sandvik Asia precedents regarding interest eligibility on delayed refunds. Case established that though initially claimed as provisional assessment, matter was treated as rectification of final assessment, triggering Section 27A interest provisions.

View Source

 


 

You may also like:

  1. Delayed adjudication of show cause notice without reasonable cause - Delay in finalizing assessments and issuing demand - Classification of goods under appropriate...

  2. CESTAT determined appellant's entitlement to 12% per annum interest on refund amounts deposited during investigation, overruling Commissioner (Appeals) order of 6%. The...

  3. Rate of Interest on delayed refund - whether the appellant is entitled for interest on the delayed payment of refund either at the rate of 6% or at the rate of 12% of...

  4. The appellant is eligible for interest on delayed refund from 22.02.2008 till the refund payment date, calculated at 12% per annum rate. CESTAT allowed the appeal,...

  5. Interest on delayed refund of IGST paid on export of the goods along with duty drawback - The refund of the petitioner was withheld for almost six months and after six...

  6. Liability to pay customs duty when confiscated goods are redeemed after payment of fine u/s 125 of the Customs Act, 1962 includes liability to pay interest on delayed...

  7. Refund of duty paid - iron ore fines were exempted from payment of duty - Determination of date of export - Claiming Benefit of exemption Notification dated 7-12-2008 -...

  8. Interest u/s 244A on delayed refund - the interest on the delayed refund becomes part of the principle amount and the delayed interest includes the interest for not...

  9. The case dealt with the interpretation of interest clauses in an arbitration award, specifically whether interest could be payable on interest or if the awarded 15% per...

  10. Refund of IGST on goods exported - The High court found the denial of the IGST refund, based on the administrative discrepancies between the ICEGATE and GST Common...

  11. Delay in issuing Refund under Direct Tax Vivad Se Vishwas Scheme 2020 - interest on delayed refund - Despite the issuance of Form No. 5, the refunds for the Assessment...

  12. Notification 52/2003-Cus dated 31.03.2003 governs the re-import of goods after export. Sr. No. 14 allows re-import for repair/reconditioning within 3/7 years,...

  13. Non-payment of interest on refund u/s 18(4) of the Customs Act 1962 upon finalization of provisional assessment was challenged. Upon completion of the specified import...

  14. Claim of interest on delayed refund, from the date of deposit till the refund of the pre-deposit of principal amount - the assessee is entitled to claim interest from...

  15. Valuation of export goods - export of Iron Ore Fines - the transaction value i.e. FOB price cannot be treated as cum duty price under section 14 of Customs Act, 1962 for...

 

Quick Updates:Latest Updates