Additional security requirement for high-turnover new dealers may be mandated when tax deposits are disproportionately low. The department proposes requiring additional security, to be furnished under rule 23 of the DVAT Rules, 2005, from dealers registered within the last three years whose quantified turnover exceeded the specified threshold in any year and who deposited tax below the departmental benchmark proportion; security would equal the prescribed percentage of the maximum quantified turnover in any of the last three financial years.
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Provisions expressly mentioned in the judgment/order text.
Additional security requirement for high-turnover new dealers may be mandated when tax deposits are disproportionately low.
The department proposes requiring additional security, to be furnished under rule 23 of the DVAT Rules, 2005, from dealers registered within the last three years whose quantified turnover exceeded the specified threshold in any year and who deposited tax below the departmental benchmark proportion; security would equal the prescribed percentage of the maximum quantified turnover in any of the last three financial years.
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