Section 56 – Interest on delayed refunds of CGST ACT, 2017<\/p>\n
56. If any tax ordered to be refunded under sub-section (5) of section 54 to any
\napplicant is not refunded within sixty days from the date of receipt of application under subsection
\n(1) of that section, interest at such rate not exceeding six per cent. as may be specified
\nin the notification issued by the Government on the recommendations of the Council shall be
\npayable in respect of such refund from the date immediately after the expiry of sixty days
\nfrom the date of receipt of application under the said sub-section till the date of refund of
\nsuch tax:
\nProvided that where any claim of refund arises from an order passed by an adjudicating
\nauthority or Appellate Authority or Appellate Tribunal or court which has attained finality
\nand the same is not refunded within sixty days from the date of receipt of application filed
\nconsequent to such order, interest at such rate not exceeding nine per cent. as may be
\nnotified by the Government on the recommendations of the Council shall be payable inrespect of such refund from the date immediately after the expiry of sixty days from the date
\nof receipt of application till the date of refund.
\nExplanation.\u2013\u2013For the purposes of this section, where any order of refund is made by
\nan Appellate Authority, Appellate Tribunal or any court against an order of the proper
\nofficer under sub-section (5) of section 54, the order passed by the Appellate Authority,
\nAppellate Tribunal or by the court shall be deemed to be an order passed under the said
\nsub-section (5).<\/p>\n
56. If any tax ordered to be refunded under sub-section (5) of section 54 to any
\napplicant is not refunded within sixty days from the date of receipt of application under subsection
\n(1) of that section, interest at such rate not exceeding six per cent. as may be specified
\nin the notification issued by the Government on the recommendations of the Council shall be
\npayable in respect of such refund from the date immediately after the expiry of sixty days
\nfrom the date of receipt of application under the said sub-section till the date of refund of
\nsuch tax:
\nProvided that where any claim of refund arises from an order passed by an adjudicating
\nauthority or Appellate Authority or Appellate Tribunal or court which has attained finality
\nand the same is not refunded within sixty days from the date of receipt of application filed
\nconsequent to such order, interest at such rate not exceeding nine per cent. as may be
\nnotified by the Government on the recommendations of the Council shall be payable inrespect of such refund from the date immediately after the expiry of sixty days from the date
\nof receipt of application till the date of refund.
\nExplanation.\u2013\u2013For the purposes of this section, where any order of refund is made by
\nan Appellate Authority, Appellate Tribunal or any court against an order of the proper
\nofficer under sub-section (5) of section 54, the order passed by the Appellate Authority,
\nAppellate Tribunal or by the court shall be deemed to be an order passed under the said
\nsub-section (5).<\/p>\n","protected":false},"excerpt":{"rendered":"
Section 56 – Interest on delayed refunds of CGST ACT, 2017 56. If any tax ordered to be refunded under sub-section (5) of section 54 to any applicant is not refunded within sixty days from the date of receipt of application under subsection (1) of that section, interest at such rate not exceeding six per … Continue reading “Section 56 – Interest on delayed refunds of CGST ACT, 2017”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/238"}],"collection":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/comments?post=238"}],"version-history":[{"count":1,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/238\/revisions"}],"predecessor-version":[{"id":239,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/238\/revisions\/239"}],"wp:attachment":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/media?parent=238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/categories?post=238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/tags?post=238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}