Section 85(4) in Meghalaya Value Added Tax Act, 2003
(4)The proceeds of sale of the goods under sub-section (2) and (3) shall be applied in the prescribed manner for payment in the following order of priority;(a)first for incidental charges, if any, relating to auction sale of such goods;(b)secondly, for expenses, if any, for storage of such goods;(c)thirdly, for penalty imposed under sub-section (1); and(d)the balance of the proceeds of the sale, if any, shall be paid to the owner of the goods or, if his particulars are not available, to the person from whom such goods were seized upon application within one year from the date of sale or within such further period as may be allowed by the Commissioner for cause shown to his satisfaction.
