Interest on Delayed Refunds under GST

Rule-94 of CGST Rules 2017

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 pay­ment advice 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.