Merger of Bongaigaon Refineries and Petrochemicals Limited with IOCL – Central Excise recognises
BONGAIGAON Refinery & Petrochemicals Ltd. (BRPL) had merged with IOCL and is now known as Indian Oil Corporation Ltd. (Bongaigaon Refinery) with effect from 25.03.2009. Now this amalgamation is recognised by Central Excise.
As per Notification No. 29/2002-Central Excise, dated the 13th May 2002, goods cleared from
(a) Numaligarh Refinery, or
(b) Bongaigaon Refineries and Petrochemicals Limited, or
(c) Indian Oil Corporation, Guwahati, or
(d) Assam Oil Division, Indian Oil Corporation, Digboi,
are exempted from fifty percent of the excise duties.
Now since Bongaigaon Refineries and Petrochemicals Limited is merged with IOCL, this notification is amended to make (b) read as
Indian Oil Corporation Ltd., Bongaigaon Refinery, or
Now Bongaigaon Refineries and Petrochemicals Limited was merged and converted into Indian Oil Corporation Ltd. (Bongaigaon Refinery) with effect from 25.03.2009, but the Central Excise amending Notification is issued on 27.4.2009. What happens to the period from 25.03.2009 to 26.04.2009? Some sincere Central Excise officers are sure to realise this mistake and the issue will ultimately reach the Supreme Court.
The Notice issued by IOCL on 25.03.2009, says,
In view of the aforesaid Order of Amalgamation, the name of Bongaigaon Refinery & Petrochemicals Ltd. will be deleted and/or replaced by Indian Oil Corporation Ltd. (Bongaigaon Refinery) at all places wherever applicable.
Notification No. - Dated: April 27, 2009