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

🔍 𝗙𝗮𝗰𝘁𝘀: 𝗖𝗼𝗺𝗽𝗮𝗻𝘆: M/s. Premium Real Estate Developers 𝗜𝘀𝘀𝘂𝗲: Whether the interest on pre-deposit should be calculated at 12% per annum as per Section 35FF, or at 6% as initially granted. 𝗔𝗰𝘁𝗶𝘃𝗶𝘁𝘆: The Tribunal set aside the demand and penalty, granting refund with interest at 12%, not 6%, per Section 35FF.

⚖️ 𝗝𝘂𝗱𝗴𝗲𝗺𝗲𝗻𝘁: The Tribunal ruled that interest on pre-deposit should be granted at 12% per annum under Section 35FF, not 6%. Following the Parle Agro Ltd. decision, the appellant is entitled to the differential interest. The Adjudicating Authority was directed to calculate and grant the interest within 60 days.

📜 𝗖𝗮𝘀𝗲 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: 𝗧𝗶𝘁𝗹𝗲: M/s. Premium Real Estate Developers vs. Commissioner of Service Tax, New Delhi – Service Tax 𝗢𝗿𝗱𝗲𝗿 𝗗𝗮𝘁𝗲: 14 November 2022 📜 This ruling affirms the entitlement of taxpayers to interest at 12% per annum on pre-deposit amounts refunded under Section 35FF.