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TMI Blog2019 (10) TMI 1006X X X X Extracts X X X X X X X X Extracts X X X X ..... terms of Section 33(2) of the Goa Value Added Tax Act, 2005 becomes payable, on the amount refundable under the provisions of the said Act - HELD THAT:- The issue decided in the case of [ 2019 (10) TMI 951 - BOMBAY HIGH COURT ] where it was held that, Respondents are directed to pay simple interest at the rate of 8% per annum on the sanctioned refund amount. - M. S. SONAK NUTAN D. SARDESSAI, JJ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the petition; (b) statutory interest of ₹ 46,94,779/- being interest at the rate of 8% per annum on ₹ 85,58,747.14 i.e. 90 days after the date of logging of the claim under sub-sec 3 of Section 10 for each of the four quarter of the year 2008-2009 as specified at para 20 of the petition; (c) ₹ 12,45,770.32 being the VAT input tax credit on export sales against restrictive tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 1,08,13,087.86 towards the interstate/local sales for the period between 1st July, 2012 and 20th February, 2016, within eight weeks from today; (B) The Respondents are directed to pay simple interest at the rate of 8% per annum on the sanctioned refund amount of ₹ 85,58,747.14 towards the refund of input tax credit/export sales for the period between 25th July, 2008, 22nd October, 2008, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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