Finance Department- Government of Odisha has issued Circular No.7107 dated 28th May, 2019 to instruct the refund of the Security Deposit made by the dealers under Odisha VAT/CST/ST Acts at the time of grant of registration.
The Key points of the Circular are :
1) Taxpayers are required to apply for refund of security under Odisha VAT Act in Form VAT – 105.
2) The securities deposits made by the dealers against whom no arears of tax, penalty or interest is outstanding or where such outstanding amount is less than the security deposit available with the authorities need not be retained by the registering authority and such amount or excess amount shall be released forthwith.
Source: Finance Department- Government of Odisha
