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[Cites 0, Cited by 0] [Section 60(1)] [Section 60] [Entire Act]

State of Haryana - Subsection

Section 60(1)(d) in Haryana Value Added Tax Rules, 2003

(d)The auction purchaser shall pay the sale value of the goods in cash immediately after the sale and he will not be permitted to carry away any part of the goods until he has paid for the same in full and until the sale has been confirmed by the appropriate authority mentioned in clause (c). If the purchaser fails to pay the purchase money, the goods shall be resold by auction in the same manner as provided in clauses (a), (b) and (c) and earnest money deposited by the defaulting bidder shall be forfeited to the State Government. The earnest money deposited by the unsuccessful bidders shall be refunded to them immediately after the auction is over.