Section 4

[27A. Interest on delayed refunds.—If any duty ordered to be refunded under sub-section (2) of section 27 to an applicant is not refunded within three months from the date of receipt of application under sub -section (1) of that section, there shall be paid to that applicant interest at such rate, 5 [ not below five per cent.] and not exceeding thirty per cent . per annum as is for the time being fixed 6 [by the Central Government by Notification in the Official Gazette], on such duty from the date immediately after the expiry of three months from the date of receipt of such application till the date of refund of such duty:

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4 [27A. Interest on delayed refunds.—If any duty ordered to be refunded under sub-section (2) of section 27 to an applicant is not refunded within three months from the date of receipt of application under sub -section (1) of that section, there shall be paid to that applicant interest at such rate, 5 [ not below five per cent.] and not exceeding thirty per cent . per annum as is for the time being fixed 6 [by the Central Government by Notification in the Official Gazette], on such duty from the date immediately after the expiry of three months from the date of receipt of such application till the date of refund of such duty: