(1)The importer shall execute a bond in the prescribed form in favour of the Collector of the importing district binding himself, his heirs, successors and assigns to pay to the Collector of the importing district-(a)the duty payable under Chapter V of the Act ;(b)if on arrival of ganja at its destination, and deficiency in quantity (as compared with the quantity received at the source of supply) is found, a penalty, duty on such deficiency at such rates as may be prescribed shall be payable ; provided that the whole, or any portion, of such penalty, duty may be remitted, should the Excise Commissioner hold such deficiency to be due to dryage, vide Rule 164 below ; and(c)on failure to lodge ganja in a licensed warehouse in the importing district within a reasonable time from the date of its receipt at the source of supply, a sum equal to the duly on the entire quantity of ganja not so lodged.The bond may be either a general bond in respect of imports that may be made from time to time or a special bond in respect of any specific consignment.
