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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