Court directs payment of specified interest at 4% per annum; rejects claim for 12% interest.

The court found in favor of the petitioner, directing the respondents to pay the specified interest amount due as of December 14, 2017, along with interest at the rate of 4% per annum from that date until actual payment, to be completed within eight weeks from the judgment date. The court rejected the petitioner's claim for interest at 12% per annum and upheld the decision for an interest rate of 4% per annum instead of the statutory 8% rate. The petition was disposed of with no order as to costs.

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Issues Involved:
1. Delay and laches in the petition.
2. Entitlement of interest from 2014 to 2017.
3. Interpretation of provisions of Goa Value Added Tax Act, 2005.
4. Claim for interest at the rate of 12% per annum.
5. Claim for interest at the rate of 8% per annum.
6. Determination of appropriate interest rate.

Analysis:

1. Delay and Laches in the Petition:
The court acknowledged the argument raised by the Advocate General regarding the delay and laches in the petition. However, the court found that the claim mainly pertained to interest between 2014 to 2017, supported by correspondence between the petitioner and the respondents. The court deemed it inappropriate to non-suit the petitioner on the grounds of delay or laches. The court clarified that the aspect of delay could be considered during the final hearing for relief.

2. Entitlement of Interest from 2014 to 2017:
The court referred to a previous judgment and order which directed the respondents to pay the petitioner a specific amount as interest up to December 14, 2017. The court upheld this direction and ordered the respondents to pay the specified amount to the petitioner.

3. Interpretation of Provisions of Goa Value Added Tax Act, 2005:
The Advocate General highlighted a dispute regarding the interpretation of provisions of the Goa Value Added Tax Act, 2005. The court noted that the dispute was resolved in a previous judgment and order dated October 16, 2019. The Advocate General reserved the right for the State to challenge this judgment, but the court did not find this as a basis to deny further interest to the petitioner.

4. Claim for Interest at the Rate of 12% per Annum:
The petitioner requested further interest at the rate of 12% per annum from December 14, 2017, until the actual payment of the interest amount. However, the court did not accept this claim and determined that an interest rate of 4% per annum would be appropriate in the present circumstances.

5. Claim for Interest at the Rate of 8% per Annum:
The petitioner could not insist on interest at the statutory prescribed rate of 8% per annum as per the Act. The court considered various factors and circumstances and decided that an interest rate of 4% per annum would be more suitable for the current case.

In conclusion, the court directed the respondents to pay the petitioner the specified interest amount due as of December 14, 2017, along with interest at the rate of 4% per annum from that date until the actual payment, to be made within eight weeks from the date of the judgment. The petition was disposed of accordingly, with no order as to costs.

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