(1) Where a refund payment order or a refund adjustment order is issued in respect of an amount ultimately found due to a person which he paid as a result of an order passed under the Act, the authority issuing the refund shall simultaneously record an order sanctioning the interest payable on such refund, specifying therein, the amount of refund, the period for which such interest is payable and the amount of interest payable by the State Government, and shall communicate the same to the person to whom the interest is payable and also to the Commissioner.
(2) Where a refund payment order or a refund adjustment order is issued, the authority issuing such order shall simultaneously record an order sanctioning the interest payable, if any, on such refund, specifying therein, the amount of refund, the payment of which was delayed, the period of delay for which such interest is payable and the amount of interest payable by the State Government, and shall communicate the same to the dealer to whom the interest is payable and also to the Commissioner stating briefly the reasons for the delay in allowing the refund.
(3) Where an order for the payment of interest on refunds or delayed refunds under sub-rule (1) or sub-rule (2), as the case may be, has been made, the sanctioning authority shall issue to the dealer interest payment order in Form VAT-G10.
45. The assessing authority shall enter in a register in Form VAT-G11 particulars of all the refunds allowed in pursuance of assessment orders, all applications for refunds and of the order passed thereon.
Chapter VI Lump sum in lieu of tax by way of composition