Section 33(2) in The Goa Value Added Tax Act, 2005
(2)When any amount refundable to any dealer or person under an order made under any provisions of this Act, including refund admissible to an exporter under sub-section (3) of section 10, is not refunded within ninety days-(a)of the date of such order is made by any authority; or(b)the date of receipt of the order by the authority, if such order is made by any other authority; or(c)of the date of receipt of application for refund under sub-section (3) of section 10,the authority shall pay such person simple interest at the rate of eight per cent. per annum on the said amount from the day immediately following the day of expiry of the said ninety days to the day of refund:Provided that the interest calculable shall be on the balance of the amount remaining after adjusting out of the refundable amount any tax, penalty or other amount due under this Act, for any year by the person on the date from which such interest is calculable.
