Section 26(3) in Manipur Value Added Tax Act, 2004
(3)The Commissioner may, by order in writing and for good or sufficient reasons to be recorded therein, forfeit the whole or any part of the security or additional security referred to in sub-section (1) furnished by a registered dealer or sub-section (2) furnished by any person, for -(a)realising or recovery of tax or any other sum due, or(b)recovery of any financial loss caused to the Government due to negligence or default in not making proper use of or not keeping in safe custody, blanker unused prescribed forms.
