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of <h1>Obligor Must Provide Bond for GST-Seized Goods, Ensuring Tax Compliance and Security Deposit Commitment</h1> A Bond for Release of Goods Seized under GST provisions involves the obligor binding themselves to the President of India or the Governor of a State for a specified sum. This bond is executed following the provisional release of seized goods, contingent upon the obligor providing a security deposit or bank guarantee. The obligor agrees to present the goods when required and to pay all due taxes, interest, penalties, and charges within ten days of a written demand. Failure to comply allows the President or Governor to recover losses from the security deposit. The bond is signed by the obligor and witnessed by two individuals.
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