Refund of excess payment

Tax1979106 sections6 chapters

Chapter IV REGISTRATION, AUTHORIZATION, RECOGNITION AND PERMIT

Statutory text

(1) The Commissioner shall refund to a person the amount of tax, interest, amount forfeited and penalty (if any) paid by such person in excess of the amount due from him. The refund may be either by refund payment order in the prescribed form, or at the option of the person by deduction of such excess from the amount of tax and penalty due in respect of any other period : Provided that, the Commissioner shall first apply such excess towards the recovery of any amount due under this Act or any earlier law and shall then refund the balance (if any). Explanation.—The expression “amount due” shall include—
- (i) any amount due as per return furnished under section 43, which has not been fully paid ;
- (ii) any amount payable by a dealer under the provisions of clause (b) of sub-section (2) of section 53.
(2) Where any refund is due to any dealer according to the return furnished by him for any period, such refund may provisionally be adjusted by him against the tax due and payable as per the returns furnished under section 43 for any subsequent period of the same year.

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