Section 5 in Haryana Local Area Development Tax Rules, 2001
5. Manner of furnishing of security.
[Section 8]. - (1) The security to be furnished under the Act may be furnished by the importer in the following manners, namely :-(a)by depositing as security in appropriate Government Treasury, the amount fixed by the said authority; or(b)by depositing security amount in the Post Office Saving Bank and pledging the pass book to and depositing it with the said authority; or(c)by furnishing to the said authority a guarantee from a Scheduled Bank as defined in the Reserve Bank of India Act, 1934, (Act 2 of 1934), agreeing to pay the State Government, on demand, the amount of security fixed by the said authority; or(d)by furnishing personal bond with solvent surety for the amount of security to the satisfaction of the said authority in Form DT-8 on a non- judicial paper of the appropriate value; or(e)by purchasing the Central Government bonds or securities equivalent to the security amount and pledging them to and depositing them with the said authority.(2)The security furnished may, in the event of default of any tax, interest or penalty due, be adjusted towards such tax, interest or penalty. The assessing authority may in any case where such adjustment has been made, demand fresh security or additional security to make up the amount adjusted towards the tax :Provided that no action under this sub-rule shall be taken unless the importer affected has been given a reasonable opportunity of showing cause against such action.
