Security deposite refund. [Resolved]

This query is : Resolved

Premlata (Querist)

01 March 2017 We had made a challan of 30025 for registration of vat certificate. but due to some reason we are not going for registration. So, Please tell the process to get back the deposit.

Kailas Mate

Kailas Mate (Expert)

01 March 2017 Grant of Refund of Security Deposits.-
(1) A person or dealer who has obtained the voluntary registration may make an application to the registering authority for refund of the amount of Rs. 25,000/- of security deposit.
(2) The application for the refund may be made,-
(a) where the registration certificate is cancelled within the period thirty-six months from the date of registration, then within six months from the date of service of the order of the cancellation of the registration certificate, and
(b) in any other case, after a period of thirty-six months from the end of the month containing the date of effect of the registration certificate but before the end of the period of forty-eight months from the end of the month containing the said date.

(3) The registering authority shall, within ninety days from the receipt of the said application, refund the amount of security deposit if the dealer has,-
(a) filed all the returns due upto the date of application for refund of the security deposit, or upto the date of cancellation of registration certificate, and
(b) paid the tax due as per the said returns, and
(c) made the application for refund within the period prescribed under sub-rule (2) above.

Kailas Mate

Kailas Mate (Expert)

01 March 2017 This rule inserted w.e.f. 1st May 2011 by Notification No. VAT-1511/CR-58/Taxation-1 dt. 29th April 2011.

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