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22. Person and the required amount of security to be furnished.

22. Person and the required amount of security to be furnished.

(1) A person applying for registration under the Act shall furnish security not exceeding one lakh rupees along with the application for registration:-

PROVIDED that the amount of the security shall be reduced by the amount stated below subject to a total maximum reduction of fifty thousand rupees, in case the person produces the following documents:

(a)	last paid electricity bill in his name	Ten thousand rupees.
(b)	last paid telephone bill in his name	Five thousand rupees.
(c)	Permanent Account Number (PAN) issued under the Income Tax Act, 1961 (43 of 1961)	Ten thousand rupees.
(d)	any document as proof of ownership of principal place of business	Thirty thousand rupees.
(e)	any document as proof of ownership of residential property	Twenty thousand rupees..
(f)	notarised photocopy of the passport of proprietor / managing partner or managing director	Ten thousand rupees

(2) A person required to pay security under sub-section 4 of section 60 for desealing or release of any premises including the office, shop, godown, box, locker, safe, almirah or other receptacle, shall furnish security of a sum equal to one percent of the maximum of GTO of last three years or a sum equal to five lakh rupees, whichever is higher.

(3) A person offering to pay security under sub-section (5) of section 61 for release of any goods vehicle, goods and documents seized shall furnish security of twice the amount of tax payable if the goods were sold in Delhi, before seeking release of goods vehicle, goods and documents seized.

(4) The Commissioner may require a dealer claiming refund under section 38 to furnish security of the amount not exceeding the amount of refund claimed before the grant of refund.

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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. . . . .