Refund Claims for Freight, Banking, and Financial Services Filed Beyond One-Year Limit: CESTAT Dismisses Appeal

Refund Claims for Freight, Banking, and Financial Services Filed Beyond One-Year Limit: CESTAT Dismisses Appeal CESTAT dismissed an appeal seeking refunds for taxes paid on freight, banking, and financial services, which were filed beyond the stipulated one-year limit. The tribunal strictly applied the limitation period under the law, denying the appellant's claim. The decision underscores the importance of adhering to statutory timelines when filing refund claims, as the tribunal ruled that procedural requirements such as the limitation period cannot be bypassed, even in genuine claims.