| Date: |
24-01-1997
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| Notification No: |
Central Excise Circular No 292/1997
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| Issuing Authority: |
Central Excise
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| Type: |
Circular
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| File No: |
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| Subject: |
Regarding condonation limit for storage loss, handling loss and transit loss in respect of Natural Gasoline Liquid (NGL)
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Regarding condonation limit for storage loss, handling loss and transit
loss in respect of Natural Gasoline Liquid (NGL)
Circular
No. 292
dated 24th January 1997
It
is been reported to the Board that Natural Gasoline Liquid (NGL) is a highly
volatile item and losses are noticed due to evaporation during the course of
loading, unloading, transportation and warehousing/ storage of this item and
therefore a Condonation limit for storage losses, transit losses and handling
losses should be prescribed by the Board as in the case of some other petroleum
products.
The
matter has been examined by the Board.
It
has been decided to prescribe a cumulative loss allowance towards storage
losses, transit losses and handling losses, upto a maximum ceiling of 0.5% of
the NGL, subject to adjustments and decision on losses on monthly basis.
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