FORM VAT-322

ORDER OF RELEASE OF BANK GUARANTEE (SUBSTITUTED BY FORM 322A W.E.F. 03-03-2014)

[Refer clause sub-rule (1) of rule 66]

04. Pursuant to the Officer order issued in letter No.____________ dt. ____________, you had furnished Bank guarantee for Rs. ______________(Rupees_______________) on ______________________branch of ___________________________ Bank.

05. The above mentioned Bank guarantee was furnished for provisional sanction of refund as claimed under sub-section (1) of Section 59 of the Orissa 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.

C.C. To be concerned Bank.