HC directs GST Dept. to pay 6% interest for wrong encashment of bank guarantee

LM Wind Power Blades (India) Pvt Ltd Vs Union of India (Karnataka High Court) The material on record discloses that undisputedly, the respondents encashed the bank guarantees of the petitioner on 23.09.2019 and the same was retained and was lying with them from that date onwards up to 05.01.2022 when the said sum of Rs.4,73,26,512/- was refunded back to the petitioner. In this context, a perusal of the judgment of the Bombay High Court will indicate that the respondents were directed to refund the said amount together with applicable statutory interest thereon, within a period of four weeks. A...