Chapter XVII (Sections 107-121) of the Central Goods and Services Tax (CGST) Act, 2017 deals with provisions related to advance ruling. Section 115 of Central Goods and Services Tax Act, 2017 (12 of 2017) provides for Interest on refund of amount paid for admission of appeal under CGST Act 2017.
Recently, we have discussed in detail section 114 (i.e. Financial and administrative powers of President) of CGST Act 2017. Today, we learn the provisions of section 115 of the CGST Act 2017. Complete Details of CGST Section 115 – Interest on refund of amount paid for admission of appeal. You may CLICK HERE to download list of all sections of CGST Act 2017 in PDF format.
Notes on Section 115 of CGST Act 2017
Section 115 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017 – Central Tax, G.S.R. 658(E), dated 28.06.2017. In this note, you will learn detail of the provisions of section 115 of CGST Act 2017 read with Central GST Rules 2017.
Where an amount paid by the appellant under sub-section (6) of section 107 or sub-section (8) of section 112 is required to be refunded consequent to any order of the Appellate Authority or of the Appellate Tribunal, interest at the rate specified under section 56 shall be payable in respect of such refund from the date of payment of the amount till the date of refund of such amount.