61. Bank Guarantee.
The Bank Guarantee shall be obtained from any branch of a bank notified as a Government Treasury or any private sector bank or any Foreign bank notified by state Govt. in official Gazette. The maximum period for a Bank Guarantee shall be of 36 months. It shall be furnished to respective Joint Commissioner in charge of grant of refunds. The Bank Guarantee shall be for such amounts and such periods as the Commissioner may by public notice notify from time to time.
Provided that the Non-resident dealer may furnish the bank guarantee from any branch situated outside the State of Maharashtra of a bank which is treated as Government Treasury for the purposes of these rules or any private sector bank or any Foreign bank notified by the state govt. in official gazzette.
Rules
61 Bank Guarantee
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