Amendment status not verified — confirm the current text below against the official source.
These words were substituted for the word"Cancelled" ibid., s.15(6). Security from certain class of dealers. Gujarat Value Added Tax Act, 2003. [2005 : Guj. (2) Where it appears necessary to the authority referred to in section 21, or the Commissioner so to do for the proper realization of the tax, interest and penalty payable or which has become due for payment, for any period of any year, he may, at any time, by an order in writing and for reason to be recorded therein, require a registered dealer to furnish in the prescribed manner and within such time as may be specified in the order, such security or if such dealer has already furnished any security, such additional security as may be specified in the order. (3) No dealer shall be required to furnish any security under sub- section (1) or any security or additional security under sub-section (2) unless he has been given an opportunity of being heard. (4) The amount of security, which a dealer may be required to furnish under sub-section (1) or sub-section (2), or the aggregate of the amount of such security, and the amount of additional security which he may be required to furnish under sub-section (2) by the authority referred to therein or the Commissioner, shall not exceed the amount of tax, interest and penalty payable or which has become due for payment for a period of any year according to the estimate of the authority referred to in sub-section (1) or the Commissioner, on the turnover of sales or turnover of purchase of goods of such dealer for any period of any year. (5) Where the security furnished by a dealer under sub-section (1) or sub-section (2) is in the form of a surety bond and the surety becomes insolvent or dies, the dealer shall, within thirty days of the occurrence of any of the aforesaid events, inform the authority referred to in sub-section (1) or sub-section (2) or, as the case may be, the Commissioner and shall within ninety days of such occurrence, furnish a fresh security for the same amount as that of the bond in the form of a bond or in any other prescribed manner. (6) The authority referred to in sub-section (1) or sub-section (2) or, as the case may be, the Commissioner may, by order and for good and sufficient cause, forefit the whole or any part of the security furnished by a dealer for realizing any amount of the tax, interest or penalty payable by the dealer: Provided that no order shall be passed under this sub-section without giving the dealer an opportunity of being heard. (7) Where by reason of an order under sub-section (6), the security furnished by any dealer is rendered insufficient, he shall make up the deficiency in such manner and within such time as may be prescribed. (8) The authority referred to in sub-section (1) or sub-section (2) or, as the case may be, the Commissioner may, on an application made by a dealer in that behalf, make an order of refund of any amount or part thereof deposited by the dealer by way of security or for the release of bond under this section, if it is not required for the purpose of realization of tax, interest or penalty. (9) Where a dealer fails to furnish security as required under sub- sections (1), (2), (5) or (7), the authority referred to in section 21 shall refuse to issue or, as the case may be, shall cancel the certificate of registration: Provided that the refusal or cancellation of a certificate of registration under this sub-section shall, notwithstanding anything contained in sub- section (3) of section 3, not affect the liability of the dealer to pay the tax, H-678-10 Gujarat Value Added Tax Act, 2003. [2005 : Guj. penalty and interest due for any period before or after the date of such refusal or cancellation of the certificate of registration, and accordingly the provisions of this Act shall continue to apply. CHAPTER V. RETURNS, PAYMENT OF TAX, ASSESSMENT, RECOVERY OF TAX AND REFUND. 29 (1) Every Registered dealer shall furnish correct and complete returns 84[of the goods in respect of his business and the transactions thereof] in such form, for such period, by such dates and to such authority, as may be prescribed. (2) The Commissioner may, subject to such terms and conditions as may be prescribed, exempt any dealer from furnishing returns or permit any dealer, - (a) to furnish for such different periods, or (b) to furnish separate returns relating to various places of business of a dealer in the State for the said period, or for such different period, to such authority, as he may direct. 85[(2A) The Commissioner may, in such circumstances and on such terms and conditions as may be prescribed, extend the date of furnishing the return by any dealer or class of dealers.] (3) If the Commissioner has reason to believe that the total turnover of any dealer is likely to exceed the thresholds of turnover specified in sub- section (1) of section 3, he may, by notice served in the prescribed manner, require such dealer to furnish returns as if he were a registered dealer, but no tax shall be payable by such dealer, unless he become liable to pay tax under sub-section (1) of section 3. (4) If any dealer having furnished returns under sub-section (1) or (3) discovers any mistake, error, omission or incorrect statement therein, he may furnish a revised return before the expiry of 86[one month from] the last date prescribed for furnishing the original return. (5) If a registered dealer or 87[any other dealer, not being a dealer referred to in sub-section (4)] required to furnish return under this section fails to furnish any return by the prescribed date as required under 88[sub-section (1) or, as the case may be, sub-section (2)] or fails to comply with the requirement of notice issued under sub-section (3), the Commissioner shall direct him to pay, in addition to any tax and interest payable or paid by him, by way of penalty 89[Such sum as may be Prescribed but not exceeding rupees ten thousand per return] 90[The penalties prescribed] under this sub- section shall be imposed by the Commissioner notwithstanding the fact that