TMI BlogManufacture and supply of fuel by IOC to Indian Navy or Coast Guard shall be exempt from excise dutyX X X X Extracts X X X X X X X X Extracts X X X X ..... Manufacture and supply of fuel by IOC to Indian Navy or Coast Guard shall be exempt from excise duty - Commentaries / Editorials Dated:- 8-11-2007 - News - Central Government has issued a notification no.37/2007-central excise date 1-11-2007 to amend notification no. No.64/95-Central Excise, dated the 16th March, 1995 to grant the exemption of Fuels falling under Chapter Heading 2710 subject t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o: If,- (a) manufactured and supplied by Indian Oil Corporation Limited as stores for consumption on board a vessel of the Indian Navy or Coast Guard; or (b) procured by Indian Oil Corporation Limited from any other manufacturer of the said fuels and supplied as stores for consumption on board a vessel of the Indian Navy or Coast Guard: Provided that- (i) Indian Oil Corporation Limited obt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ains registration under rule 9 of the Central Excise Rules, 2002, with the Assistant Commissioner or Deputy Commissioner of Central Excise having jurisdiction over the concerned supply point; (ii) maintains records of receipt and supplies of these fuels; (iii) submits a monthly reconciliation statement to and proves to the satisfaction of the jurisdictional central excise officer that such f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uels have been supplied as stores for consumption on board a vessel of Indian Navy or Coast Guard; and (iv) failing which Indian Oil Corporation Limited pays the excise duty leviable on fuels not properly accounted for along with interest." - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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