Rule 5
Term And Validity Of License
(1) The term of the license issued pursuant to Rule 4 shall remain valid only for one fiscal year.
(2) The licensee shall, within One month of expiration of the term of license referred to in Sub-rule (1), get the license renewed for one fiscal year, by paying the license fee as specified in Schedule-2 to the Excise Duty Officer specified by the Department.
(3) The licensee who does not get the license renewed within the term referred to in Sub-rule (1) may, within One month of expiration of the term, get the license renewed for one fiscal year, by paying an additional fee to be set by ten percent of the license fee as specified in Schedule-2 and the due and payable excise duty.
(4) The license of a licensee who does not get it renewed even within the period referred to in Sub-rule (3) shall ipso facto be canceled.
(2) The licensee shall, within One month of expiration of the term of license referred to in Sub-rule (1), get the license renewed for one fiscal year, by paying the license fee as specified in Schedule-2 to the Excise Duty Officer specified by the Department.
(3) The licensee who does not get the license renewed within the term referred to in Sub-rule (1) may, within One month of expiration of the term, get the license renewed for one fiscal year, by paying an additional fee to be set by ten percent of the license fee as specified in Schedule-2 and the due and payable excise duty.
(4) The license of a licensee who does not get it renewed even within the period referred to in Sub-rule (3) shall ipso facto be canceled.