Section 20(4) in Uttaranchal Value Added Tax Act, 2005
(4)The amount of such security or additional security that may be required to be furnished by any dealer or any person concerned, shall-(a)in the case of dealer liable to pay tax under the provisions of Section 3 who has applied for the grant of certificate of registration under Section 15 or Section 16, be such amount as the Assessing Authority may, having regard to the nature and size of the business of such dealer, determine for the payment of the tax for which the dealer may be or become liable under this Act;(b)in any other case not to exceed the tax payable in accordance with the estimate of the Assessing Authority on the turnover of the dealer or the person concerned for the assessment year in which such security is required to be furnished.
