Taxpayer made pre-deposit of whole Demand of Service Tax: CESTAT upholds 7.5 % Interest on Deposited Demand [Read Order]

The appellant was entitled to interest on 7.5% of Rs.7, 90,08,905/- from 28.12.2018 till 01.09.2022 at the rate of 12% per annum
Taxpayer - pre - deposit - demand of Service Tax - CESTAT - Interest on Deposited Demand - TAXSCAN

The Kolkata bench of the Customs Excise and Service Tax Appellate Tribunal (CESTAT) upheld the imposition of a 7.5% interest on the deposited demand, even though the taxpayer made a pre-deposit of the entire service tax demand.  The appellant established a Gas Cracker Project for overall development of Assam and the said project started commercial…

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