Form B-I Indemnity Bond under the Bihar Value Added Tax Rules, 2005 [See rule 4] Know all men by these presents that, I/We* ........................................................................................................... (full name) Son of .................................................................................................... (full name), resident of .............................................................................................................. .............................................................................................................................................(full address) bearing Taxpayer Identification Number ................................................... am/are* held and firmly bound up to the Governor of Bihar exercising the executive power of the Government of the State of Bihar (herein-after referred to as the "Government"), which expression shall unless excluded by or repugnant to the context, include his successors in office and assigns including any authority appointed under section 10 of the Bihar Value Added Tax Act, 2005 in the sum of rupees ........................................................................................................ ....................................................................................................................(amount in figures and followed by amount in words) (hereinafter referred to as the "said sum") to be paid to the Government on demand, for which payment will and truly to be made, I/We* bind myself/ourselves*, my/our* heirs, executors, administrators and legal representative by these presents; WHEREAS the above bounded is required by section 3 of Bihar Value Added Tax Act, 2005 to pay tax under the said Act and is further required by section 19 of the said Act to be registered under the said Act and to be in possession of a valid registration certificate thereunder; AND WHEREAS the above bounden has been required by the .................................................................... of Commercial Taxes ......................................................................... Circle to furnish security for the said sum for the proper use of the Certificate in Form C-I and in indemnifying the Government against all loss, costs or expenses, which the Government may, in any way suffer, sustain or pay in the event of the above bounden's failure to make proper use of the Certificate in Form C-I. Now the condition of the above written bond is such that the above bounden shall in the event of a loss suffered by the Government (in respect of which the decision of the Government or the authority appointed for the purpose shall be final and binding on the above bounden) as a result of the misuse of the Form, pay to the Government on demand and without demur the said sum of Rs. .............................................. [Rupees ................................................................................................................................ (in words)] and shall otherwise indemnify and keep the Government harmless and indemnified against and form all liabilities incurred by the Government as a result of the misuse of such form. In witness whereof the said ................................................................................................................................................. (full name) has hereunto set his hand this ........................................................................ day of ........................................................................................ . Signed and delivered by the above named in the presence of: Signature (1) ................................................................................ (2) ................................................................................ Status ................................................................................ ................................................................................ * Strike out which is not applicable. -2 - We ....................................................................................................................... hereby declare ourselves sureties for the above bounden and guarantee that he/they shall do and perform all that he/they has/have above undertaken to do and perform, and in case of his/their omission, default or failure therein, we hereby bind ourselves jointly and severally to forfeit to the Governor of Bihar exercising the executive power of the Government of the State of Bihar (hereinafter referred to as the Government), which expression shall, unless excluded by or repugnant to the context, include his successors-in-office and assigns including any authority appointed under section 10 of the Bihar Value Added Tax Act, 2005 the sum of rupees ....................................................................................................... ..................................................................................................... (amount in figures followed by amount in words) (hereinafter refered to the said sum) in which the above bounden has bound himself or such other lesser sum as shall be deemed to be sufficient by the authority prescribed under rule 62 of the rules framed under the said Act to recover any amount of tax payable by the above bounden and remaining unpaid and also to recover any loss, damage, cost or expenses which the Government may sustain, incur or pay by reason of such omission, default or failure. And we agree that the Government may, without prejudice to any other rights or remedies of the Government, recover the said sum from us, jointly and severally, as an arrear of land revenue. And we also agree that neither of us shall be at liberty to terminate this suretyship except upon giving to the authority prescribed in rule 62 of the said rule six calendar month's notice in writing of his intention so to do and our joint and several liability under this bond shall continue in respect of all acts, omissions, defaults, failure and insolvencies on the part of the above bounden until the expiration of the said period of six months. Signature of sureties: (1) ........................................................... (2) ........................................................... Permanent Address: ............................................................................................... ..................................................................................................... ............................................................................................... ..................................................................................................... In presence of Signature : (1) ........................................................... (2) ........................................................... Permanent Address: ............................................................................................... ..................................................................................................... ............................................................................................... .....................................................................................................
