Section 42(1) in The Andaman and Nicobar Islands Value Added Tax Regulation, 2017
(1)A person entitled to a refund under this Regulation, shall be entitled to receive, in addition to the refund, simple interest at the annual rate notified by the Government from time to time, computed on a daily basis from-(a)the date that the refund was due to be paid to the person; or(b)the date that the overpaid amount was paid by the person, whichever is later, and such interest shall be calculated upon the date on which the refund is given:Provided that the interest shall be calculated on the amount of refund due after deducting therefrom any tax, interest, penalty or any other dues under this Regulation, or under the Port Blair Municipal Council Octroi Tax Bye-Laws:Provided further that if the amount of such refund is enhanced or reduced, as the case may be, such interest shall be enhanced or reduced accordingly.
