https://www.taxtmi.com/caselaws?id=222129 Security furnished for release of detained goods, including a bank guarantee, cannot be enforced before the expiry of the 30-day period prescribed for payment of penalty under section 47(8) of the Kerala Value Added Tax Act. Read with Rule 67(9), the statutory scheme permits adjustment or realisation from cash security, other security, or bond only after that period if the penalty remains unpaid. The provisions were construed harmoniously to apply the same time limit to released goods as to seized goods, protecting the assessee from premature invocation of the guarantee. en-us Fri, 07 Dec 2012 00:00:00 +0530 Thu, 21 Feb 2013 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=222129 Security furnished for release of detained goods, including a bank guarantee, cannot be enforced before the expiry of the 30-day period prescribed for payment of penalty under section 47(8) of the Kerala Value Added Tax Act. Read with Rule 67(9), the statutory scheme permits adjustment or realisation from cash security, other security, or bond only after that period if the penalty remains unpaid. The provisions were construed harmoniously to apply the same time limit to released goods as to seized goods, protecting the assessee from premature invocation of the guarantee. Case-Laws VAT and Sales Tax Fri, 07 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=222129