From today, no clearance of petroleum products from one customs warehouse to another
From 4.9.94, the warehousing facility for petroleum products under Central Excise was withdrawn and it was only a natural corollary that it would follow in the Customs side too, soon and it has come rather late. Petroleum products are normally kept in warehouses in the importing stations and from there they are transferred to inland stations also without payment of duty under the warehousing provisions. Now the Government has withdrawn this facility for imported petroleum products with effect from the midnight of 15.2.2005. Now warehousing facility will be allowed only at the port of import and further movement to hinterland has to be on payment of duty only. Board wants these hinterland warehouses to be de-bonded immediately and duty realised without causing any hindrance to the movement of petroleum products and any precipitate action. A tough job indeed for the field! Is it another way to boost the sagging revenue collection?
CIRCULAR NO., Dated : February 14, 2005