2026 (1) TMI 105

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...., 'impugned SCN') issued to the Petitioner under Section 130 of the Central Goods and Services Tax Act, 2017 (hereinafter, 'CGST Act') by the Respondent Department. 3. A brief background of the Petitioner's case is that, a search was conducted by the Directorate General of Goods and Services Tax Intelligence (hereinafter, 'DGGI') at the business premises of the Petitioner and excess stock of Televisions and Motherboards were seized on the ground that goods found were more than the recorded stock. 4. Thereafter, the impugned SCN was issued to the Petitioner on 18th March, 2019, proposing confiscation of the excess stock of Televisions and Motherboards valuing Rs. 1,34,43,410/-. 5. According to the Petitioner, the impugned SCN was ma....

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....rporate guarantee or some other form of security is also acceptable. For the sake of reference, Section 67(6) of the CGST Act, Rule 140(1) of the Rules and Section 35(6) of the CGST Act are set out below: Section 67(6) of CGST Act "(6) The goods so seized under sub-section (2) shall be released, on a provisional basis, upon execution of a bond and furnishing of a security, in such manner and of such quantum, respectively, as may be prescribed or on payment of applicable tax, interest and penalty payable, as the case may be." Rule 140 (1) of the Rules "140. Bond and security for release of seized goods.-(1) The seized goods may be released on a provisional basis upon execution of a bond for the value of th....