Section 56 of the CGST Act, 2017 — Interest on Refunds  –— The petitioner prayed for directions to the respondents to grant and release refund of IGST paid on exports made for the month of September 2018 along with statutory interest on such refund. The court observed that the refund amount was credited in the account of the writ-applicant on 17.01.2022 during the pendency of the present writ-application. Section-56 of the Act provides that if any tax, which is ordered to be refunded under Sub-section (5) of Section-54 , is not refunded within sixty days from the date of receipt of the application, interest at the rate not exceeding 6% shall be payable in respect of such refund from the date immediately after the expiry of sixty days. The applicant is entitled to interest on the delayed payment towards refund at the rate of 6%.

Held that:- The Hon’ble High Court directed the authorities to calculate the amount towards interest towards the delayed refund amount in accordance with the provisions of Section-56 of the Act, within a period of six weeks.