Section 6(4) in Punjab General Sales Tax (Deferment and Exemption) Rules, 1991
(4)The prescribed authority shall, after satisfying itself that a unit which has made an application under sub-rule (1) of rule 5 for availing benefit of deferment of, or exemption from the liability to pay the tax under the Act, fulfils all the conditions laid down in the rules for such a benefit and that he has furnished adequate security under these rules and after satisfying itself that the application is in order, shall issue in respect of the unit a certificate in Form ST (D and E) II to that effect.Explanation. - The mortgage deed and the bank guarantee specified in this rule shall be entered in a register to be maintained in Form ST (D and E) III, by prescribed authority and shall be kept in personal custody of the prescribed authority and it shall be handed over to his successor personally against proper receipt and a certified copy of the same shall be sent to the Excise and Taxation Commissioner by name who will acknowledge its receipt.
