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Delayed Refunds Under Karnataka VAT Act: Officers Face Rs. 50,000 Penalty for Late Interest Payment Beyond 15 Days.

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....Entitlement to Interest on delayed refund - Section 50 of the Karnataka Value Added Tax Act, 2003 - In case the officers fails to pay interest within 15 days then each of them shall be liable to cost of ₹ 50,000.....

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