Section 8(1) in Punjab General Sales Tax (Deferment and Exemption) Rules, 1991
(1)The deferment or exemption certificate granted in respect of a unit shall be liable to be cancelled on any of the following grounds, namely :-(i)that the certificate has been obtained by fraud, deceit, mis-representation, mis-statement or concealment of material facts;(ii)that the unit has discontinued his business at any time for a period exceeding six months or it has its closed business during the period of deferment or exemption;(iii)that the unit has disposed of any of the fixed assets mortgaged with the Government;(iv)that the unit has failed to furnish adequate security as required under these rules;(v)that the unit has failed to pay the deferred amount of tax on the due date of payment;(vi)that the unit has violated any of the provisions of the Act, or the rules made thereunder;(vii)that the competent authority of the Department of Industries, competent to grant eligibility certificate has recommended that the deferment or exemption certificate be cancelled.
