Section 69(3) in Haryana Value Added Tax Rules, 2003
(3)Where a unit holding an entitlement or a revised entitlement certificate, as the case may be, elects to avail deferment of payment of tax, it shall, if no security for the payment of deferred tax is required to be furnished under the existing rules, furnish security for the full amount of tax to be deferred to the satisfaction of the appropriate assessing authority. The security shall be furnished in advance for the tax to be deferred in a year or the remaining period if less than one year within a month of the beginning of the year or before the end of the remaining period if less than a month and where such security falls short of the amount of tax deferred at any time additional security of the adequate amount shall be furnished within a month. The security shall be fully maintained for the whole of the period till the payment of the deferred tax is fully made. If a unit fails to furnish the security or the additional security, as the case may be, in time, it shall not be entitled to the benefit of deferment of payment of the unsecured amount of tax and such tax shall become recoverable immediately with interest as if the unit was not entitled to the deferment of this tax.
