Amendment status not verified — confirm the current text below against the official source.
Surrender and disposal of stock. - (1) When a license, permit or pass is withdrawn under sub-section (1) of section 41 or amended under subsection (3) of section 34, the holders of licenses, permits or passes shall surrender the stock, as required in the notice issued in this behalf, remaining unsold with them on the date of withdrawal or amendment in the license takes effect to the Deputy Excise and Taxation Commissioner or Excise and Taxation Officer (Excise) of the district concerned and any excise duty realised by the Government on the stock so surrendered shall be refundable. (2) Notwithstanding the fact that the period during which any license, permit or pass is to be in force has not expired, the Collector may direct the holder thereof to dispose of his stock off intoxicant or export the same against valid permit before such date as may be specified in the order. (3) The Collector may also direct the owner of the stock of any intoxicant, who does not hold any license, permit or pass for such stock to surrender such stock to the Deputy Excise and Taxation Commissioner or the Excise and Taxation Officer (Excise) of the district concerned before such date as may be specified in the order, and the owner shall comply with such direction.]