CESTAT: 6% interest on pre-deposit amount if tax payer wins

CESTAT: 6% interest on pre-deposit amount if tax payer wins

FPJ BureauUpdated: Saturday, June 01, 2019, 10:13 AM IST
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New Delhi: The government will pay 6% interest on pre-deposit amount paid by a taxpayer if the taxpayer wins appeal against the tax department before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), a senior official said. Finance Minister Arun Jaitley had proposed changes in the Excise Act to introduce pre-deposit of a small part of the duty or penalty demanded as a necessary condition to entertain appeals. The existing provision required businesses to deposit whatever pre-deposit the Commissioner (Appeals) or the tribunal would order the businesses to pay.

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