Section 46(11) in The Punjab Value Added Tax Act, 2005
(11)The penalty referred to under sub-section (10), shall be deposited by the person in the prescribed manner within a period of thirty days from the service of the notice. If the person does not deposit the penalty, the officer shall cause the goods to be sold in such manner, as may be prescribed and apply the sale proceeds thereof towards the penalty and tax and refund the balance, if any, to the owner or the person duly authorised by the owner of such goods, subject to provisions of section 37. In the event of the goods having been released against security under sub-section (9), the amount of penalty imposed, shall be recovered out of such security.
