Section 203: Power to revoke or suspend license

The Service may by notice in writing revoke or suspend any excise license if the holder of such license has -
a been convicted of an offence under the excise laws;
b been convicted of any offence involving dishonesty or fraud;
c become bankrupt or has entered into any arrangement or compromise with or for the benefit of the creditors of the holder;
d failed to maintain a financial guarantee in accordance with this Act; or
e failed to pay any excise duty when due and payable.