Section 115 of GST – Interest on refund of amount paid for admission of appeal
Statutory Provisions Where an amount paid by the appellant under sub-section (6) of section 107 or under sub-section (8) of section 112 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. Related provisions of the Statute
Analysis and Updates
Introduction (i) This section provides for interest on delayed refund of pre-deposit made while filing the appeal Analysis (i) Interest at the rates specified in Section 56 (9% as specified) shall be payable on refund of pre-deposit.(ii) Such interest to be calculated from the date of payment of such pre-deposit till the date of refund Comparative review Section 35FF of the Central Excise Act, 1944 read with Notification No. 24/2014-CE (NT) dated August 12, 2014 provides for interest on refund of pre-deposit at the rate of 6% per annum. Recommended Articles –
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