Section 115 of GST – Interest on refund of amount paid for admission of appeal. In this GST Section you may find all details for Interest on refund of amount paid for admission of appeal as per GST Act 2017. Detailed Analysis of GST Section 115 of GST Act 2017. We Provide Complete Details for All GST Section’s and In this article you may find all details for GST Section 115..
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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
| Section or Rule | Description |
| Section 56 | Interest on delayed refunds |
| Section 107(6) | Appeal to Appellate Authority |
| Section 112(8) | Appeal to Appellate Tribunal |
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.
Frequently Asked Questions
When is interest on refund of pre-deposit calculated?
The interest will be calculated from the date of pre-deposit to the date of refund of the same.
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At what rate, 9% or 6% ??
At what rate, 9% or 6% ??