Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 15-2-2017 – GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN SECTION 104 INTEREST ON REFUND OF PRE-DEPOSIT:- This section pertains to refund on mandatory pre-deposit made at first appellate authority and tribunal. This section states that where an amount deposited by the appellant under sub-section (6) of section 98 or under sub-section (9) of section 101 is required to be refunded consequent to any order of the First Appellate Authority or of the Appellate Tribunal, as the case may be, interest at the rate specified under section 50 shall be payable in respect of such refund from the date of payment of the amount till the date of refund of such amount. This provision is similar to p
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ssee at prescribed rates from the date of receipt of such application till the date of refund of such duty. This provision created problem because the revenue authorities contend that no interest is payable as the refund is normally sanctioned within a period of 3 months from the date of receipt of refund application. It is also pertinent to mention that the amended section 35FF states that the amount of pre-deposit made prior to 06.08.2014 would be governed by old provisions. Moreover, it is also provided in section 179 of the Revised GST law that the pending refund claims are to be disposed of as per earlier laws. Hence, assessees may continue to face problems in claiming interest on refund of pre-deposit for period prior to 06.08.2014. H
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