Gujarat HC directs Revenue Department to pay 9% interest for delay in IGST refundJuly 25 2019
In an order that will offer some succour to exporters, the Gujarat High Court directed the Department of Revenue, Ministry of Finance to pay interest to a party at the rate of 9% per annum for delay in granting refund under the Integrated Goods and Services Tax (IGST) Act.
The petitioner, M/S Saraf Natural Stone, had approached the High Court seeking compensation and interest for the substantial delay in making payment of the refund of Integrated Tax paid on the export of goods.
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