- The security under rule 7 may be furnished by the stockist in any of the following ways, namely(a)by depositing as security in the Government Treasury, or(b)by depositing security amount in the Post Office Savings Bank and pledging the Pass Book to and depositing it with the Luxury Tax Officer, or(c)by pleading with the said authority, National Savings Certificate for the amount of security fixed, or(d)by furnishing to the said authority,a guarantee from a Scheduled bank, agreeing to pay to the State Government, on demand, the amount of security fixed by the said authority; or(e)by mortgaging immovable property free from all encumbrances whatsoever, in favour of the State Government for amount of security fixed :Provided that the immovable property so mortgaged can be further mortgaged subject to the encumbrance for security of tax payable under the Act.
