Section 40(2) in Gujarat Value Added Tax Rules, 2006
(2)When an order for interest on refund has been made, the Commissioner shall issue Interest Payment Order in Form 307 by forwarding the same to the bank declared by him in his application for registration under section 29, 30 and 30A of the earlier law or under section 21 or 22 of the Act or to the bank which the dealer has intimated to the registering authority.
