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  • Stock control and ATO access – excisable fuel and petroleum products

    As an excise licence holder, you have specific responsibilities for your stock of excisable fuel and petroleum products.

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    Stock control

    You're responsible for the excisable goods in your possession, custody or control. We may require you to pay an amount equal to the excise duty that would have been payable on the goods if you:

    • fail to keep those goods safe
    • can't account for them to our satisfaction.

    Stocktakes – general requirements

    You need to conduct regular stocktakes to:

    • check the accuracy of your stock records
    • identify omissions or errors in stock records
    • identify security issues (such as theft)
    • identify problems with plant and equipment.

    Accounting for the theft of underbond stocks is the responsibility of the licence holder and duty is payable on stock that has been stolen. If underbond stock has been stolen, contact us for advice.

    Stocktakes – for excisable fuel products

    You should do stocktake surveys monthly, or at a minimum, quarterly.

    You should conduct stocktakes on a floor-to-book basis.

    Duty is payable on stock that you can't account for. You must:

    • tell us as soon as possible about stock losses that are outside normal loss parameters
    • record any stock gains
    • ensure any stock gains are taken up as underbond stock in your records.

    In some situations, you may offset survey gains against unaccounted shortages when you calculate duty payable on packaged stock losses.

    Contact us for advice about further action in these situations.

    Destroying stock

    You need our permission before you destroy any excisable fuel or petroleum products.

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    ATO access to your premises

    You must give ATO officers complete access, at all times, to every part of any factory, approved place or other premises specified in a licence.

    Our officers may examine and take account of excisable goods in these premises and in vehicles.

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    Last modified: 15 Sep 2020QC 63565