https://www.taxtmi.com/caselaws?id=245540 A security deposit condition for continuation of registration under section 28(2) of the Gujarat VAT Act must be imposed reasonably and in proportion to the assessee's turnover and likely tax exposure. Where the record shows no bogus billing activity and no default in filing returns or paying tax, an excessive security requirement may be modified. On the facts, the security demand was reduced from Rs. 10 lakh to Rs. 2 lakh, and time was granted for compliance. No view was expressed on the separate cancellation-ab-initio proceedings. en-us Fri, 21 Mar 2014 00:00:00 +0530 Thu, 10 Mar 2016 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245540 A security deposit condition for continuation of registration under section 28(2) of the Gujarat VAT Act must be imposed reasonably and in proportion to the assessee's turnover and likely tax exposure. Where the record shows no bogus billing activity and no default in filing returns or paying tax, an excessive security requirement may be modified. On the facts, the security demand was reduced from Rs. 10 lakh to Rs. 2 lakh, and time was granted for compliance. No view was expressed on the separate cancellation-ab-initio proceedings. Case-Laws VAT and Sales Tax Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245540