The fixed fee for grant and renewal of a license other than L-14A and L-2 shall be payable within a period of seven days of the grant/renewal of relevant license. The licenses shall be operative after the deposit of the prescribed fee:Provided that in the case of licences [except licenses L-1 and L-1 (Import)] granted, extended or renewed for any period less than one year, the fixed fee for each period shall be worked out proportionately on monthly basis and a fraction of a month shall be counted as a month for this purpose.]
