To control import, subsequent processing of products of which the consumption is regarded as lacking merit or as likely to cause negative externalities. Rule 3
After submitting the application, it takes one day to process the application. The permit is valid for one year.
The license will be valid for one year. Term and validity of license:(1) The term of the license issued pursuant to Rule 4 shall remain validonly for one fiscal year.(2) The licensee shall, within one month of expiration of the term oflicense referred to in sub-rule (1), get the license renewed for onefiscal year, by paying the license fee as specified in Schedule-2 tothe Excise Duty Officer specified by the Department.(3) The licensee who does not get the license renewed within the termreferred to in sub-rule (1) may, within six months of expiration ofthe term, get the license renewed for one fiscal year, by paying anadditional fee to be set by fifty percent of the license fee as specifiedin Schedule-2 and the due and payable excise duty.(4) The license of a licensee who does not get it renewed even withinthe period referred to in sub-rule (3) shall ipso facto be cancelled.