(1) If a licensee stops carrying out transaction of excisable goods or services, the licensee shall file an application to the Excise Duty Officer for holding the license along with reason for such action within 15 days.
(2) If an application is received pursuant to Sub-section (1), the Excise Duty Officer shall make decision to hold or not to hold the license of that licensee, and if it appears necessary to hold the license, shall hold it and notify the licensee within fifteen days after the receipt of the application.
(3) The licensee whose has been kept on hold pursuant to Sub-section (2) shall not be required to file returns as referred in Section 10A since the next month of the such hold.
(4) The licensee shall not be required to renew the license pursuant to Section 9 during the period of hold pursuant to Sub-section (2).
(5) The licensee shall file an application to the Excise Duty Officer, in case they intend to resume the transaction of goods or services from the license kept in hold pursuant to Sub-section (2) and the Excise Duty Officer shall permit the transaction to be carried out after receiving such application.