REVENUE REGULATIONS NO. 21-2003 issued on July 18, 2003 amends further the transitory provisions of RR No. 4-2003, as amended, which pertains to the deadlines on the submission of inventory list and inventory taking of automobiles. All importers and/or assemblers shall submit a duly notarized list of inventory onhand of completely assembled automobiles (CBUs), including Completely-KnockedDown (CDK) and Semi-Knocked Down (SKD) units, that are located within the assembly plant or warehouse or the customs’ premises as of September 8, 2003, indicating therein the engine, body and chassis numbers thereof. The list shall be submitted to the BIR, through the Chief, Large Taxpayers Assistance Division II, not later than September 12, 2003. Failure to submit the inventory list shall be construed that said importers/assemblers do not have any inventory on hand of CBUs, CDKs and SKDs as of September 8, 2003. Stocktaking of the said inventories shall be conducted by the BIR for purposes of validating the said list, within 5 days from the date of submission thereof.