Section 77(7) in West Bengal Value Added Tax Act, 2003
(7)The proceeds of sale of the goods referred to in sub-section (4) or subsection(6) 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 the balance of the proceeds of sale, if any, shall be paid to the owner of the goods or, if his particulars are not available, to the persons from whom such goods were seized under section 76, 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 the satisfaction.
