Furnishing security for provisional GST assessment via bank guarantee and bond; department may invoke on default of documents or payment. Form GST ASMT-05 requires furnishing bank guarantee and bond to secure provisional assessment under Section 60, with prescribed details and hard-copy submission, an undertaking to renew guarantees, departmental rights to invoke guarantees on non-provision of information, and a joint and several bond obliging payment of all taxes and charges with interest within thirty days of written demand, payable from the guarantee or bond if the obligor defaults.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Furnishing security for provisional GST assessment via bank guarantee and bond; department may invoke on default of documents or payment.
Form GST ASMT-05 requires furnishing bank guarantee and bond to secure provisional assessment under Section 60, with prescribed details and hard-copy submission, an undertaking to renew guarantees, departmental rights to invoke guarantees on non-provision of information, and a joint and several bond obliging payment of all taxes and charges with interest within thirty days of written demand, payable from the guarantee or bond if the obligor defaults.
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