Section 24A in The Maharashtra Tax on Luxuries Act, 1987
24A. [ Interest on amount of refund. - Where, in pursuance of any order under this Act, in respect of any period of assessment commencing on or after the 1st April 2004, refund of any tax becomes due to a [registered hotelier] [Section 24A was inserted by Maharashtra 13 of 2004, Section 55.], he shall, subject to the rules, if any, be entitled to receive, in addition to the refund, a simple interest at the rate of six per cent per annum for the period commencing on the date next following the last date of the period of assessment to which such order relates and ending on the date of such order or for a period of eighteen months, whichever is less. The interest shall be calculated on the amount of refund due to the [hotelier] [These words were -substituted and deemed to have been substituted w.e.f. 21-01-2005 for the word 'tobaccontst, hotelier or as the case may be, the textile trader' by Maharashtra 32 of 2006, Section 23(b).] in respect of the said period after deducting therefrom the amount of penalty and interest, if any, charged in respect of the said period and also the amount of refund, if any, adjusted towards any recovery under this Act. If, as a result of any order passed under this Act, the amount of such refund is enhanced or reduced, as the case may be, such interest shall be enhanced or reduced accordingly.
Explanation. - For the purposes of this section, where the refund of tax, whether in full or in part, includes any amount of refund on any payment of tax made after the date prescribed for filing of the fast return for the period of assessment, then the interest, in so far as it relates to the refund arising from such payment, shall be calculated from the date of such payment to the date of such order.]
