Interest on delayed refunds: prescribed interest payable when tax refunds are not made within the statutory period.

Section 56 creates a statutory entitlement to interest on delayed refunds under the Meghalaya GST Act, 2017: if a refund ordered under sub section (5) of section 54 is not paid within sixty days of the refund application, interest (not exceeding six per cent. as notified) is payable from the day after the sixty day period until payment; where the refund follows a final appellate or judicial order, a higher notified interest rate (not exceeding nine per cent.) applies. Appellate or court orders directing refund are deemed orders under sub section (5) of section 54 for this purpose.

---

---

---