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of <h1>Ministry of Finance ends duty-free transfers of petroleum between warehouses; now limited to import ports u/s 67.</h1> The circular issued by the Ministry of Finance, Central Board of Excise & Customs, announces the discontinuation of the facility allowing oil companies to transfer petroleum products between warehouses without paying customs duty. Previously, companies could move products from import ports to inland warehouses under Section 67 of the Customs Act, 1962. Now, warehousing is restricted to the port of import, requiring duty payment before inland transfer. Exceptions include goods exempt from customs duty and those imported by EOUs, STPs, EHTPs, and SEZs. The directive is effective from midnight on February 15, 2005, with instructions to avoid disruptions in petroleum product movement.
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