https://www.taxtmi.com/article/detailed?id=9318 Provisional release of seized goods under the GST framework is permitted on execution of a bond and furnishing security in the form of a bank guarantee, or on payment of applicable tax, interest and penalty; where the person fails to produce the goods at the appointed place and time, the security may be encashed and adjusted against the tax, interest and penalty. Authorities must form a reasonable reason to believe based on relevant material before seizure, distinguish transit-stage detention from post-delivery confiscation, and consider appellate and stay remedies before coercive encashment of bank guarantees. en-us Thu, 02 Jul 2020 07:40:23 +0530 Thu, 02 Jul 2020 07:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9318 Provisional release of seized goods under the GST framework is permitted on execution of a bond and furnishing security in the form of a bank guarantee, or on payment of applicable tax, interest and penalty; where the person fails to produce the goods at the appointed place and time, the security may be encashed and adjusted against the tax, interest and penalty. Authorities must form a reasonable reason to believe based on relevant material before seizure, distinguish transit-stage detention from post-delivery confiscation, and consider appellate and stay remedies before coercive encashment of bank guarantees. Articles Goods and Services Tax - GST Thu, 02 Jul 2020 07:40:23 +0530 https://www.taxtmi.com/article/detailed?id=9318