Excise: Interest on Refunded Pre-Deposit Amount Under Section 35FF Is a Statutory Right

Laurel Wires Ltd Vs Commissioner Of Central Excise And Service Tax- Nashik (CESTAT Mumbai) In a significant decision impacting taxpayers awaiting interest on successful appeals, the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Mumbai bench, has ruled that interest must be paid on a pre-deposit amount of ₹20 lakhs refunded to M/s Laurel Wires Ltd following a favourable tribunal order. The ruling sets aside an order by the Commissioner (Appeals), Nashik, which had rejected the appellant’s claim for interest, primarily on grounds related to the procedure and timeliness of...