Interest on delayed refunds: department must pay interest when refund processing exceeds statutory timeframes; procedural safeguards required. Interest under proposed Section 11BB becomes payable where refund applications are not processed within the statutory period counted from receipt to cheque dispatch. Applications must be filed at the Assistant Collector, immediately scrutinised by an officer not below Inspector, and an acknowledgement issued within 48 hours. Deficiency letters, approved by a Superintendent, must be issued within 48 hours when applications are incomplete, and the statutory period is tolled until all requisite information is received. Named officers should be designated to carry out initial verification, and a detailed document checklist is annexed for different refund categories.
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Interest on delayed refunds: department must pay interest when refund processing exceeds statutory timeframes; procedural safeguards required.
Interest under proposed Section 11BB becomes payable where refund applications are not processed within the statutory period counted from receipt to cheque dispatch. Applications must be filed at the Assistant Collector, immediately scrutinised by an officer not below Inspector, and an acknowledgement issued within 48 hours. Deficiency letters, approved by a Superintendent, must be issued within 48 hours when applications are incomplete, and the statutory period is tolled until all requisite information is received. Named officers should be designated to carry out initial verification, and a detailed document checklist is annexed for different refund categories.
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