Section 56
Interest on delayed refunds
In force
Section 56. Interest on delayed refunds.
If any tax ordered to be refunded is not refunded within sixty days from the date of receipt of application, interest at such rate not exceeding six per cent. as may be specified shall be payable in respect of such refund from the date immediately after the expiry of sixty days till the date of refund.
Sources & verification
- • Statutory text: View source
- • CBIC reference: cbic-gst.gov.in/sec-56.html
- Source confidence: Pending verification
Quick facts
- Section
- 56
- Chapter
- XI
- Amendments
- 0
- Notifications
- 0
- Circulars
- 0
- Case laws
- 0
- Linked rules
- 1