Interest on delayed refunds: entitlement to interest where GST refunds are not paid within the statutory period.

Interest is payable where a GST refund ordered under the statutory refund procedure is not paid within the prescribed sixty-day period following receipt of the refund application; interest accrues from the day after the sixty-day period until refund at a rate notified by the Government on the Council's recommendation. Where the refund follows a final order by an adjudicating, appellate or judicial body, interest similarly accrues from the day after the sixty-day period, and such appellate or judicial order is treated as a refund order for interest purposes.

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