Delayed GST refund interest applies after sixty days, with higher interest for refunds arising from final appellate or court orders. Interest is payable on delayed GST refunds where tax ordered to be refunded under section 54(5) is not refunded within sixty days of the refund application. The notified rate may not exceed six per cent, and the interest runs for the delay beyond the sixty-day period until refund, subject to prescribed conditions and restrictions. Where the refund follows a final order of an adjudicating authority, Appellate Authority, Appellate Tribunal, or court, a higher notified rate not exceeding nine per cent may apply from the day after expiry of sixty days until refund.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Delayed GST refund interest applies after sixty days, with higher interest for refunds arising from final appellate or court orders.
Interest is payable on delayed GST refunds where tax ordered to be refunded under section 54(5) is not refunded within sixty days of the refund application. The notified rate may not exceed six per cent, and the interest runs for the delay beyond the sixty-day period until refund, subject to prescribed conditions and restrictions. Where the refund follows a final order of an adjudicating authority, Appellate Authority, Appellate Tribunal, or court, a higher notified rate not exceeding nine per cent may apply from the day after expiry of sixty days until refund.
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