Seized goods could be released on furnishing security equal to invoice value, other than cash or bank guarantee

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Section 68, read with section 129, of the Central Goods and Services Tax Act, 2017 and rule 140 of the Central Goods and Services Tax Rules, 2017/Section 68, read with section 129, of the Uttar Pradesh Goods and Services Tax Act, 2017 and rule 140 of the Uttar Pradesh Goods and Services Tax Rules, 2017 – Search, seizure, etc. – Goods in movement, inspection of (NR) – Assessee was carrying 440 quintals of poplar woods in a vehicle – Competent Authority had seized said goods as well as vehicle on ground that size of wood planks was unequal – Whether Competent Authority was to be directed to release goods and vehicle on assessee furnishing security equal to value of goods shown in invoice, other than cash or bank guarantee – Held, Yes.

Citation: [2018] 94 taxmann.com 309 (Allahabad)

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