Re: Interest on vsv refund

What is the time limitation for issue of refund by the department determined in Form 5 of VSV? If the refund is not received within the said time limit then whether the assessee is entitled for interest on the delayed period and what is the procedure. pl. guide

There is neither  time prescribed under the Act nor interest is payable to  the assessee.  The assessee may make an request in writing  to the Designated Authority  to grant the refund with interest at the earliest . If no response is received   within reasonable time  the assessee may file writ before the High Court. High Court has the power to direct the  Designated Authority/ Assessing Officer  to grant refund along with the interest .     

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