SC Directs 6% Interest on JVAT Act Refund: Jharkhand vs Kirloskar

State Of Jharkhand & Ors. Vs Kirloskar Brothers Limited (Supreme Court of India) Introduction: In a significant verdict, the Supreme Court of India, in the case of State of Jharkhand & Ors. vs Kirloskar Brothers Limited, has directed the payment of interest at 6% on the refund amount under Section 55 of the Jharkhand Value Added Tax Act, 2005 (JVAT Act). The judgment builds upon a previous order dated 28.11.2023, setting the tone for the resolution of disputes related to the refund of the principal amount. Detailed Analysis: The case revolves around the respondent’s application f...