Section 132 in The Medicinal And Toilet Preparations (Excise Duties) Rules, 1955
132. Account of stock of goods in a manufactory or warehouse to be taken and balance to be struck.
- As often as the Excise Commissioner may deem it necessary or proper, and at least once in every year, the stock of dutiable goods remaining in a manufactory or warehouse or store room licensed or approved for the storage of such goods shall be counted, weighed, measured, proved, gauged or otherwise ascertained in the present of the proper office or the officer-in-charge, as the case may be, and if the quantity so ascertained is less than the quantity which ought to be found in such premises (after taking into account receipts and deliveries, and making such allowance for wastage by evaporation or other natural causes, as the reasonable and as may be in accordance with any order issued by the State Government) the owner of such goods shall, unless the deficiency be accounted for to the satisfaction of such officer, be liable to pay the duty leviable on such deficiency; and shall also be liable to a penalty which may extend to ten times the duty chargeable on such goods as are found deficient or a sum of Rs.2,000/- whichever is less.
