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2020 (2) TMI 374 - HC - GSTSeizure of goods alongwith conveyance - requirement to furnish bank guarantee equivalent to the amount of his liability - Section 129 of UPGST Act - HELD THAT:- The scheme of Section 129 of the UPGST Act, 2017 is the most reliable guide of the legislative intent. Section 129 of the UPGST Act, 2017 contemplates a comprehensive scheme with a summary procedure for release of goods and conveyances seized in transit. The legislative intent is to secure revenue interests and equally to ensure expeditious release of the seized goods and conveyances. This procedure is distinct from the adjudicatory process of determination of tax liability. It is admitted by the State Revenue that the petitioner had furnished a security in the form of a bank guarantee, equivalent to the amount payable under clause (a) of section 129(1) of the UPGST Act, 2017, upon demand made by the Revenue to furnish such security of like amount. The security in the form of a bank guarantee so furnished upon demand to the satisfaction of the State Revenue Authorities is clearly relatable to Section 129 (1)(c) of the UPGST Act, 2017 - The seized vehicle and goods have been released on the strength of such security deposit. Hence, the proceedings taken out under section 129 of the UPGST Act, 2017 are liable to be concluded in view of section 129 (5) of the UPGST Act, 2017 - Clearly the notice under Section 129(3) of the UPGST Act, 2017, dated 4th December, 2019 is infructuous and the proceedings taken thereunder are liable to be treated as concluded. Petition disposed off.
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