Monday 17 September 2018

Hon'ble High Court ordered to release interest accrued due to delay in refund

Hon'ble Punjab & Haryana High Court, Chandigarh in Civil Writ Petition (CWP) no. 18314 of 2018, titled as "M/s Sukhdev & Company V/s State of Punjab and others", ordered that the amount of interest due to the petitioner be paid to the firm within four weeks.

In the said case, Mr. M. P. Singh, Financial Commissioner, Taxation, Punjab presented in person in Court. He submitted that after the introduction of GST from July 1, 2017, the process of refund of any excess amount paid by the assessees is streamlined. He further submitted that about a sum of  Rs.750 crores is to be refunded to the assessees under the Punjab Value Added Tax Act, 2005 (for short 'the VAT Act').

For detailed order Please CLICK HERE