section 39
Interest on over payments and late refunds
The Andhra Pradesh Value Added Tax Act, 2005Tax200583 sections10 chapters
Chapter V PROCEDURE AND ADMINISTRATION OF TAX
Statutory text
- (1) Where the authority prescribed is required to refund an amount of tax to a VAT dealer or TOT dealer or any other dealer as a result of:-
- (a) a decision under Section 31; or
- (b) a decision of the Appellate Tribunal under Section 33; or
- (c) a decision of the High Court under Section 35; such refund shall be made within a period of ninety days from the date of the receipt of the order.
- (2) Where refund is not made within the stipulated time, as mentioned in sub- section
- (1) the amount of refund shall carry interest at the rate of one percent per month for the period of delay. The interest in respect of part of a month shall be computed proportionately and for this purpose, a month shall mean a period of 30 days.
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