[Code of Federal Regulations]

[Title 27, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 27CFR28]



[Page 793-794]

 

            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS

 

 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 

                                TREASURY

 

PART 28_EXPORTATION OF ALCOHOL--Table of Contents

 

                 Subpart D_Bonds and Consents of Surety

 

Sec.  28.80  Charges and credits on bonds.



    The withdrawal of liquors without payment of tax or of specially 

denatured spirits free of tax, under the provisions of this part shall 

constitute a charge against the bond under which the withdrawal is made 

of (a) the tax on the liquors withdrawn or (b) of an amount equal to the 

tax on specially denatured spirits withdrawn that will be due in the 

event of failure to account for the specially denatured spirits as 

provided in this part. The tax on liquors so withdrawn, or an amount 

equal to the tax on specially denatured spirits so withdrawn that would 

be due



[[Page 794]]



as set forth above, shall, on the required accounting for such liquors 

or specially denatured spirits, constitute a credit to the bond of such 

tax or amount equal to the tax, as the case may be. Provisions regarding 

charges and credits on drawback bonds are contained in subpart P of this 

part.