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Chapter X

Refund

94. Order sanctioning interest on delayed refunds.-

Where any interest is due and payable to the applicant under section 56, the proper officer shall make an order along with a 1[payment order] in FORM GST RFD-05, specifying therein the amount of refund which is delayed, the period of delay for which interest is payable and the amount of interest payable, and such amount of interest shall be electronically credited to any of the bank accounts of the applicant mentioned in his registration particulars and as specified in the application for refund.

Note :-

1. Substituted by Notification No. 31/2019 – Central Tax Dated 28.06.2019.    Amendment effective date is Yet to be notified

in rule 94, for the words

payment advice

shall be substituted namely;

payment order.