Monday, 9 January 2017

Section-50. Interest on delayed refunds under Model GST Law

                    Section-50.                    Interest on delayed refunds under Model GST Law


If any tax ordered to be refunded under section 48 to any applicant is not refunded
within sixty days from the date of receipt of application under sub-section (1) of that
section, interest at such rate as may be specified in the notification issued by the
Central or a State Government on the recommendation of the Council shall be
payable in respect of such refund from the date immediately after the expiry of sixty
days from the date of receipt of application under the said sub-section till the date of
refund of such tax.

Explanation.- Where any order of refund is made by an Appellate Authority, Tribunal
or any Court against an order of the proper officer under sub-section (5) of section
48, the order passed by the Appellate Authority, Tribunal or, as the case may be, by
the Court shall be deemed to be an order passed under the said sub-section (5) for
the purposes of this section.

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