|
44.
Order sanctioning interest on Delayed refunds. section 20(11).
(1)
Where a refund payment order or a refund adjustment order is issued in respect
of an amount ultimately found due to a person which he paid as a result of an
order passed under the Act, the authority issuing the refund shall
simultaneously record an order sanctioning the interest payable on such refund,
specifying therein, the amount of refund, the period for which such interest is
payable and the amount of interest payable by the State Government, and shall
communicate the same to the person to whom the interest is payable and also to
the Commissioner.
(2)
Where a refund payment order or a refund adjustment order is issued, the
authority issuing such order shall simultaneously record an order sanctioning
the interest payable, if any, on such refund, specifying therein, the amount of
refund, the payment of which was delayed, the period of delay for which such
interest is payable and the amount of interest payable by the State Government,
and shall communicate the same to the dealer to whom the interest is payable and
also to the Commissioner stating briefly the reasons for the delay in allowing
the refund.
(3)
Where an order for the payment of interest on refunds or delayed refunds under
sub-rule (1) or sub-rule (2), as the case may be, has been made, the sanctioning
authority shall issue to the dealer interest payment order in Form VAT-G10.
|