Section 6(2) in Punjab General Sales Tax (Deferment and Exemption) Rules, 1991
(2)The bank guarantee furnished under sub-rule (1) shall remain in force for the period for which the deferment is applied for and in case the entire amount of deferment is not paid within the stipulated period of deferment, the bank guarantee shall be renewed before the date of its expiry, failing which the unsecured deferred tax shall become due for payment immediately.
