https://www.taxtmi.com/caselaws?id=200041 The transition from exemption under the Bihar Finance Act, 1981 to the Bihar Value Added Tax Act, 2005 replaced the earlier regime with a limited deferment option under Section 96(3)(b), to be exercised through the prescribed Form A-XII procedure under Rule 57. If deferment was not duly opted for, delayed tax or deferred tax attracted statutory interest. The article further notes that a refund of such interest is unavailable unless the claimant shows the burden was not passed on, because otherwise restitution would amount to unjust enrichment. On those principles, waiver or refund of the interest claim was rejected. en-us Tue, 16 Aug 2016 00:00:00 +0530 Sat, 17 Mar 2018 20:42:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200041 The transition from exemption under the Bihar Finance Act, 1981 to the Bihar Value Added Tax Act, 2005 replaced the earlier regime with a limited deferment option under Section 96(3)(b), to be exercised through the prescribed Form A-XII procedure under Rule 57. If deferment was not duly opted for, delayed tax or deferred tax attracted statutory interest. The article further notes that a refund of such interest is unavailable unless the claimant shows the burden was not passed on, because otherwise restitution would amount to unjust enrichment. On those principles, waiver or refund of the interest claim was rejected. Case-Laws VAT and Sales Tax Tue, 16 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200041