(1)The importer shall execute a bond in the prescribed form in favour of the Deputy Commissioner of the importing district binding himself, his heirs, successors and assigns to pay to the Deputy Commissioner of the importing district-(a)the duty payable under Chapter V of the Act;(b)if on arrival of ganja at its destination, any 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 held such deficiency to be due to dryage, vide Rule 152. below, and(c)on failure to lodge ganga in 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 duty on the entire quantity of ganga 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.
