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Circular
No. 292/8/97-CX
dated 24/1/97
F.No. 26127/2/95-CX.8
Government of India
Ministry of Finance
Department of Revenue,
New Delhi
Subject:
Condonation limit for storage loss, handling loss and transit loss
in respect of Natural Gasoline
Liquid (NGL) - regarding.
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.
Sd/-
(P.K. Sinha)
Under Secretary
(CX.6)