FORM XXVIII TRIPURA VALUE ADDED TAX ACT, 2004 PROCLAMATION FOR AUCTION FOR SALE ( Under Rule of 71 (5) of TVAT Rules ) No............ Date.............. Notice is hereby given for information of the general public and merchants and traders that the under mentioned unclaimed goods which are lying at.......(Place) will be sold by public auction at.........(Place) on.......... (date) at.......(time). 2. All intending bidders are invited to attend the auction sale. 3. The following are particulars of the goods, which shall be sold by auction. (a) (b) (c) (d) (e) (f) (g) (h) 4. The auction will be governed under the following conditions :- (a) The Superintendent of Taxes shall reserve the right to withhold the auction or to withdraw any item from the auction at any time or stage without assigning any reason therefore. (b) The goods will be put on open bid for auction and will be sold to the bidder if and when such bid will be considered reasonable by the auctioning authority. (c) The auction sale value must be paid in cash by the higher bidder on demand immediately on the spot after the bid is closed. (d) The goods shall be removed by the successful bidder within 48 hours of the auction, otherwise demurrage charges shall be levied @ Rs. 100/- (one hundred) per day irrespective of the value and quantity of the goods. (e) Rs. 200/- (Rupees two hundred) should be deposited by the intending bidder as security money before commencement of the auction. The refund will be made immediately after the close of the auction on the spot. However, the security money will be forfeited if the successful bidder refuses to pay the value in cash or attempts to revoke or withdraw his final bid. (f) The decision of the auctioning officer at the spot shall be final in all respects. Superintendent of Taxes Government of Tripura.
