TaxTMI 
TaxTMI 
My Sales Tax assessment for YE 31.03.2001 was concluded. However by SMR (Summary Revision) Order in 2006 there was an additional demand of ₹ 4.00 Lacs. This was paid under protest and an appeal was filed. This was disposed by the Tribunal in my favour in 2011. Thereafter I filed for refund. I received the refund in September 2014. I want to know if i am entitled to interest in as much as the Department collects interest for delay. Here i have paid excess on their demand which was quashed by the tribunal. please advise.
Interest on VAT Refund-Karnataka
17 Sep 2014 
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Interest on VAT refunds payable when refunds delayed beyond prescribed period; rate and calculation set by statute.
Section 50 mandates simple interest on refundable amounts not paid within thirty-five days of the relevant order or its receipt by the refunding authority; interest accrues from the day after that period until refund at the statutory rate of six percent per annum on the balance remaining after adjusting any tax, interest or other amounts due, with prescribed exclusions for computing the thirty-five days and proportional determination for part months. (AI Summary)
Section 50 mandates simple interest on refundable amounts not paid within thirty-five days of the relevant order or its receipt by the refunding authority; interest accrues from the day after that period until refund at the statutory rate of six percent per annum on the balance remaining after adjusting any tax, interest or other amounts due, with prescribed exclusions for computing the thirty-five days and proportional determination for part months. (AI Summary)