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20 : Furnishing of security under clause (a) of sub-section (12) of section 17 M.P. VAT RULES

20 : Furnishing of security under clause (a) of sub-section (12) of section 17

(1) The amount of security that may be demanded from a dealer under clause (a) of sub-section (12) of section 17 shall be –

(i) the highest amount of tax payable by such dealer in any quarter of the previous year subject to maximum of rupees one laces ;

(ii) where there is no previous year, rupees ten thousand.

(2) Security shall be in the form of FDR or security bonds.

(3) The security obtained from dealer under sub rule (1) shall be held for a period of 2 years.

(4) If the dealer complies with the requirement of the Act during the said period, security shall be released.

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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. . . . .