Interest on Export Iron Ore Fines Duty Refund: CESTAT Directs 6% Annual Interest u/s 129 E of Customs Act [Read Order]

CESTAT directing to grant interest @6% per annum from the date of deposit till the date of refund.
Interest - Export Iron Ore Fines Duty Refund - CESTAT - Interest us 129 E of Customs Act - TAXSCAN

The Hyderabad bench of the Customs Excise and Service Tax Appellate Tribunal (CESTAT) directed a 6% annual interest under Section 129E of the Customs Act on the refund of duty for export iron ore fines. The appellant/assessee Bagadiya Brothers Pvt Ltd exported iron ore fines which are subject to export duty at Rs.300 per MT….

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