Section 5 in The Assam Bonded Warehouse Rules, 1965
5. Licence fee and execution of bond.
- Before the licence to work a bonded warehouse is granted by the Excise Commissioner, the applicant shall be required to pay a licence fee of Rs. 30,000 per annum and shall execute a hypothecation deed in the form prescribed in these rules pledging the warehouse with the stock of foreign liquor, vats, all apparatus and utensils therein for the due discharge of all payments which may become due to the State Government by way of duty, fees, rents, fines, penalties or otherwise under the provisions of his licence or to which the applicant may be liable by law or rules or under any agreement or bond into which he may have entered.
