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R.37 Form of security U.P.VAT RULES

R.37 Form of security-

(1) Security or additional security demanded under sub-section (1) of section 19 may be furnished in any one of the following forms:-

(a) by pledging personal immovable assets of the proprietor, partner, Karta Hindu Undivided Family, company, society, club or association, as the case may be, at first charge in favour of the Government of Uttar Pradesh with the Registrar of properties; or

(b) by furnishing surety from two dealers who are and have been registered dealers either under the Uttar Pradesh Trade Tax Act 1948 or under the Uttar Pradesh Value Added Tax Act, 2007 during a minimum period of past three completed assessment years and who are not defaulter under the Uttar Pradesh Trade Tax Act, 1948, the Central Sales Tax Act, 1956 and the Uttar Pradesh Value Added Tax Act, 2007; or

Provided that where upon verification any security furnished by a dealer is found false, without prejudice to any other action under the Act or any other law for the time being in force, the registering authority may require the dealer to furnish security in any of the forms mentioned in sub-rule (2).

(2) Notwithstanding anything containing in sub-rule (1) the dealer may, at his option, furnish security or additional security referred to in sub-section (1) of section 19, in any one of the following forms:

(a) By depositing amount in cash; or

(b) By furnishing bank guarantee from a scheduled bank; or

(d) By pledging National Saving Certificates or any other saving certificates issued by Indian Postal Services.

(3) Undertaking from surety referred to in sub-section (6) of section 81 shall be presented in Form XIII.

(4) The undertaking referred to in sub-rule (3) shall be complete in all respects.

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GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .