𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘧𝗳𝗮 – 𝗖𝗘𝗦𝗧𝗔𝗧 𝗡𝗲𝘄 𝗗𝗲𝗹𝗵𝗶: 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗼𝗻 𝗽𝗿𝗲-𝗱𝗲𝗽𝗼𝘀𝗶𝘁 𝗮𝘀 𝗽𝗲𝗿 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟯𝟱𝗙𝗙 @ 𝟭𝟮% 📢 𝗧𝗵𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗵𝗲𝗹𝗱: "Interest on pre-deposit should be granted at 12% per annum as per Section 35FF from the date of deposit till the date of refund."

🔍 𝗙𝗮𝗰𝘁𝘀: 𝗖𝗼𝗺𝗽𝗮𝗻𝘆: M/s. Premium Real Estate Developers 𝗜𝘀𝘀𝘂𝗲: Whether the interest on the pre-deposit made by the appellant is to be calculated as per the provisions of Section 35FF and at what rate. 𝗔𝗰𝘁𝗶𝘃𝗶𝘁𝘆: The appellant contested the 6% interest on pre-deposit, seeking 12%, after the service tax demand was set aside.

⚖️ 𝗝𝘂𝗱𝗴𝗲𝗺𝗲𝗻𝘁: The Tribunal ruled that interest on a pre-deposit should be granted at 12% per annum, as per Section 35FF, from the date of deposit to the date of refund. It directed the Adjudicating Authority to grant differential interest, setting aside the previous order of 6%. The appeal was allowed.

📜 𝗖𝗮𝘀𝗲 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: 𝗧𝗶𝘁𝗹𝗲: M/s. Premium Real Estate Developers vs. Commissioner of Service Tax – Service Tax 𝗢𝗿𝗱𝗲𝗿 𝗗𝗮𝘁𝗲: 14 November 2022 📜 The ruling ensures that the appellant receives interest on pre-deposit at the correct rate of 12% as per Section 35FF of the Finance Act, 1994.