FORM VAT-322A

ORDER OF RELEASE OF BANK GUARANTEE

[ see clause (k) of sub-rule(1) of rule 65]

04. you had furnished Bank guarantee for Rs. .............................. (Rupees ............................ ) on ................................... branch of .............................. Bank.

5. The above mentioned Bank guarantee was furnished for provisional sanction of refund as claimed under sub-section (1) of Section 59 of the Odisha Value Added Tax Act, 2004, pending audit and final determination of refund due.

06. Now the tax audit conducted, reports that the amount of refund claimed and provisionally sanctioned in your favour is due as per the records and accounts produced before audit

or

The assessment made as a result of the finding of the audit and orders dt. ............... passed thereof has determined that the refund claimed and provisionally sanctioned in your favour is due and admissible as per the records and accounts produced by you.

or

The excess claim of refund provisionally sanctioned in your favour as determined in the order of assessment dt .................... passed after examination of the records and accounts has been paid by you through challan No............................ dt. ................................ crossed Demand Draft No. ................. dt............................. drawn on ............................. branch of .............................. Bank ( Strike out, whichever is not applicable )

07. Accordingly, the Bank Guarantee furnished by you bearing No..................... dt. ............................. for Rs. .................................... (Rupees ..........................) of branch of ............................ Bank is released.

08. You may take appropriate steps to encash the Bank guarantee as referred to above.