Section 12(2) in Gujarat Value Added Tax Rules, 2006
(2)Where a dealer is required to furnish security or additional security under section 28 or, as the case may be, a person or a dealer required to furnish security under proviso to sub-section (4) of section 73 or under the second proviso to sub-rule (5) of rule 45, shall,-(i)furnish a bond executed by himself in Form 105 with one surety acceptable to the authority who passes the order under the provisions referred to above for such sum as the authority may specify in the order, or(ii)deposit the cash in the Government Treasury, Government securities in the form of stock certificates or Government Promissory Notes of a market value of not less than the sum as may be specified in the order or National Savings Certificate or Treasury Savings Certificate of the face value of not less than the said sum, duly endorsed in favour of the Commissioner, or(iii)furnish the guarantee of a Bank approved by the Commissioner in this behalf, agreeing to pay to the Commissioner on demand, such sum not exceeding the amount as may be specified in the order:Provided that for the purpose of furnishing security other than the security under sub-section (4) of section 73, dealer may furnish security in any of the mode prescribed in clause (ii) or (iii):
