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of <h1>Dealers Must Secure Surety Bond Under Delhi VAT Act 2004 to Ensure Compliance and Indemnify Government Against Losses</h1> A local surety bond under the Delhi Value Added Tax Act 2004 requires a dealer to secure a registration certificate by providing a surety bond to the Government. This bond ensures the dealer's compliance with tax liabilities and indemnifies the Government against any losses due to the dealer's default. The bond remains valid for 36 months after the dealer's obligations cease, allowing recovery of any undiscovered liabilities. The surety guarantees the dealer's performance and agrees to pay any losses incurred by the Government due to the dealer's default. The bond can be terminated with a one-year notice to the Commissioner.
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