CESTAT Chandigarh allows 12% Interest on Excise duty Refund

Fujikawa Power Vs CCE & ST (CESTAT Chandigarh) In a landmark decision, the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) Chandigarh has ruled in favor of Fujikawa Power against the Commissioner of Central Excise & Service Tax (CCE & ST), granting an annual interest rate of 12% on excise duty refunds. This case, which revolves around the delayed refund of excise duty payments, underscores the rights of appellants to receive timely financial compensation. Detailed Analysis: The appeals, stemming from two separate but related cases, challenge the rejection of interest ...