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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Delhi VAT Act Update: New 6% Annual Interest Rate for Refunds Under Section 42(1), Superseding 2005 Notification.</h1> The Government of the National Capital Territory of Delhi, through the Finance Department, has issued a notification under the Delhi Value Added Tax Act, 2004. This notification, effective immediately, prescribes an annual interest rate of six percent for refunds as per subsection (1) of section 42 of the Act. This supersedes the previous notification dated April 25, 2005. The directive is authorized by the Lieutenant Governor of Delhi and communicated by the Deputy Secretary of Finance.