The Hon’ble Supreme Court in the case of Union of India and Ors. v. M/s. B.T. Patil and Sons Belgaum (Construction) Pvt. Ltd. [Civil Appeal No. 7238 of 2009 dated February 05, 2024] upheld the decision of the Hon’ble Division Bench of High Court of Karnataka where the Respondent was awarded 15% interest on the delayed refund of deemed export duty drawback on construction of civil work. Therefore, the interest was to be calculated from the date on which the application for refund was filed.
Source a2ztaxcorp
Latest Posts in "India"
- India’s GST 2.0 Sparks Concerns in Nepal Over Smuggling and Trade Deficit
- India Recognizes Intermediary Services as Exports Under GST, Aligning with Global Practices
- FISME Urges Automatic GST Refunds, Proposes 8% Concessional Rates to Support MSMEs
- India Launches GST Appellate Tribunal for Uniform Dispute Resolution Across States
- GSTN Advisory 624: New Changes in Invoice Management System Effective October 2025
