Section 37(2) in Uttaranchal Value Added Tax Act, 2005
(2)[ The said dealer shall furnish a Bank Guarantee or other security or documentary evidence of export of goods to the satisfaction of the Assessing Authority, for an amount equal to the amount of the provisional refund. On receipt of such guarantee or other security, or documentary evidence of export of goods the Assessing Authority shall, subject to the provisions of this Section and the rules, grant the dealer within thirty days a provisional refund that may be found as refundable. The dealer shall keep the bank guarantee or security furnished by him valid up to the date of recovery of excess amount, if any, after final assessment:Provided that if the amount found refundable is not refunded to the dealer within the period prescribed, the dealer shall be entitled to simple interest on such amount at the rate of nine percent per annum.] [Substituted vide Notification No. 1314/XXXVI(4)/2008, dated 31-3-2008]
