Sales Tax Instructions

Sales Tax Instructions, 2009
(J)
FORMAT OF BANK GUARANTEE IN STAY CASES.
24. In order to standardize the format of guarantees accepted by
Collectorates in litigation/cases where recovery of sales tax is ordered to be stayed
against a Bank Guarantee to the satisfaction of the respondent department viz. the federal
Government, Central Board of Revenue, Collector or any subordinate officer, a draft of
the acceptable Bank Guarantee is at Annex-A. In such cases, the officers of sales tax shall
require the petitioners to submit the Guarantee in the enclosed format, with such
modification/alternations as are considered necessary and appropriate by the said
respondent officer/department for his satisfaction.
FORMAT OF BANK GURANTEE
The Collector of Sales Tax,
______________________
We ______________________(Bank) ___________________ do hereby bind ourselves
on this _____________ day of ______________, 200__ on behalf of M/s.
______________________, (the petitioner in W. P. No. __________________), to pay to
the Government of Pakistan through the Collector of Sales Tax,
_____________________ an amount of Rs.____________ (Rupees (in words)
______________________________ only), being sales tax involved in Writ Petition
No.______________ filed by M/s. _____________________________ in the
Honourable _______________, Court, ______________, Bench, ____________ in terms
of its ad-interim order dated _____________ passed in C. M. Application
No.___________________ relating to the said Writ Petition.
2. This unconditional Guarantee shall be binding on us till its discharge in terms of
the decision of the case in W. P. No._________________ and we agree and undertake to
make payment of the above sum of sales tax amounting to Rs.____________ (Rupees (in
words) ____________________), to the Government of Pakistan within seven days of
the receipt of demand from the Collector of Sales Tax or his Sales Tax Officer
____________________, duly authorized by him in this behalf, without delay and
default, on the happening of any of the following events, whichever is earlier:-
(i) Honourable _____________________Court‘s Order, if any, altering its interim
order dated _____________________ in a manner that the amount becomes payable to
the Government; or
(ii) Afflux of time on expiry of the prescribed period in terms of clause (4-A) of
Article 199 of the Constitution of Pakistan; or
(iii) Honourable ________________________High Court‘s judgment in W. P.
No.___________________ as and when passed, holding that the sales tax involved in the
bank guarantee was payable by the petitioner M/s. _______________________.