FORM GST INS-04: BOND FOR RELEASE OF GOODS SEIZED

Important Keyword: FORM GST INS -04, RELEASE OF GOODS SEIZED.

FORM GST INS-04

[See rule 140(1)]

BOND FOR RELEASE OF GOODS SEIZED

I……………..of………………. hereinafter called “obligor(s)” am held and firmly bound to the President of India (hereinafter called “the President”) and/or the Governor of……………………….. (State) (hereinafter called “the Governor”) in the sum of………………………rupees to be paid to the President / the Governor for which payment will be made. I jointly and severally bind myself and my heirs/ executors/ administrators/legal representatives/successors and assigns by these presents; dated this……………….day of………………..

WHEREAS in accordance with the provisions of sub-section (2) of section 67, the goods have      been   seized  vide         order           number            ……………………dated…………           having value ………….rupees involving an amount of tax of…………………………….. rupees. On my request the goods have been permitted to be released provisionally by the proper officer on execution of the bond of value …………………rupees and a security of…… rupees against which

cash/bank guarantee has been furnished in favour of the President/ Governor; and

WHEREAS I undertake to produce the said goods released provisionally to me as and when required by the proper officer duly authorized under the Act.

And if all taxes, interest, penalty, fine and other lawful charges demanded by the proper officer are duly paid within ten days of the date of demand thereof being made in writing by the said proper officer, this obligation shall be void.

OTHERWISE and on breach or failure in the performance of any part of this condition, the same shall be in full force:

AND the President/Governor shall, at his option, be competent to make good all the losses and damages from the amount of the security deposit or by endorsing is rights under the above- written bond or both;

IN THE WITNESS THEREOF these presents have been signed the day hereinbefore written by the obligor(s).

Signature(s)    of           obligor(s).

Date:

Place:

Witnesses

• Name and Address
• Name and Address Date

Place

Accepted           by           me          this………………………..          day           of                          …………………….

(month)……………..……..(year)……………………………….. (designation of officer)for and on behalf of the President /Governor.

(Signature of the Officer)

Read More: NOTIFICATION No. 06/2024 – Central Tax: Seeks to notify “Public Tech Platform for Frictionless Credit” as the system with which information may be shared by the common portal based on consent under sub-section (2) of Section 158A of the CGST Act, 2017.

Web Stories: NOTIFICATION No. 06/2024 – Central Tax: Seeks to notify “Public Tech Platform for Frictionless Credit” as the system with which information may be shared by the common portal based on consent under sub-section (2) of Section 158A of the CGST Act, 2017.

Official Income Tax Return filing website: https://incometaxindia.gov.in/