[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR28]

[Page 816-817]
 
            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of (a) the tax on the liquors withdrawn or (b) of an amount equal to the 
tax on specially denatured spirits withdrawn that will be due in the 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 The tax on liquors so withdrawn, or an amount 
equal to the tax on specially denatured spirits so withdrawn that would 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 817]]

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.