60. Grant of Refund.-

(1) Application for refund under section 51 shall be made in Form 501.

(2) When the Commissioner is satisfied that a refund is due, he shall pass an order in Form 502, showing the amount of refund due and shall communicate the same to the dealer.

(3) When an order for refund has been made under any rule, the Commissioner shall, if the applicant desires payment in cash, issue to him a refund payment order either in Form 503 or, in form, 504. If the dealer desires adjustment of refund, against tax payable in respect of any subsequent period contained in the year to which the refund relates under this Act, the Central Sales Tax Act, 1956, or the Maharashtra Tax on Entry of Goods into Local Areas Act, 2003, the Commissioner shall issue a Refund Adjustment Order in Form 506.

[60A. Grant of Refund of Security Deposits.-

           (1) A person or dealer who has obtained the voluntary registration may make an application to the registering authority for refund of the amount of Rs. 25,000/- of security deposit.

         (2)  The application for the refund may be made,-

               (a) where the registration certificate is cancelled within the period thirty-six months from the date of registration, then within six months from the date of service of the order of the cancellation of the registration certificate, and

              (b) in any other case, after a period of thirty-six months from the end of the month containing the date of effect of the registration certificate but before the end of the period of forty-eight months from the end of the month containing the said date.

     (3) The registering authority shall, within ninety days from the receipt of the said application, refund the amount of security deposit if the dealer has,-

           (a) filed all the returns due upto the date of application for refund of the security deposit, or upto the date of cancellation of registration certificate, and

          (b)  paid the tax due as per the said returns, and

           (c) made the application for refund within the period prescribed under sub-rule (2) above.]


1.     This rule inserted w.e.f. 1st May 2011 by Notification No. VAT-1511/CR-58/Taxation-1 dt. 29th April 2011.