Where the authority prescribed is required to refund an amount of tax to a VAT dealer or TOT dealer or any other dealer as a result of;

(a) a decision under Section 31; or

(b) a decision of the Appellate Tribunal under Section 33; or

(c) a decision of the High Court under Section 35 of the Act,

such refund shall be made within a period of ninety days from the date of the receipt of the order.

(2) Where such refund is not made within the stipulated time, the amount of refund shall carry interest at the rate of 1.25% per month on the amount of the refund for the period of delay. The interest in respect of part of a month shall be computed proportionately and for this purpose, a month shall mean a period of 30 days.