Section 38(3) in The Delhi Value Added Tax Act, 2004
(3)Subject to [sub-section (4) and sub-section (5)] [Substituted for 'sub-section (4)' by DVAT (Amendment) Act, 2005 (5 of 2005), w.e.f. 1-4-2005.] of this section, any amount remaining after the application referred to in sub-section (2) of this section shall be at the election of the dealer, either-(a)[ refunded to the person,- [Substituted by DVAT (Second Amendment) Act, 2005 (10 of 2005), w.e.f. 16-11-2005.](i)within one month after the date on which the return was furnished or claim for the refund was made, if the tax period for the person claiming refund is one month;(ii)within two months after the date on which the return was furnished or claim for the refund was made, if the tax period for the person claiming refund is a quarter; or](b)carried forward to the next tax period as a tax credit in that period.
