TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Indian Oil's Circulating and Hydraulic Oils Denied Lubricant Exemption; Rs. 24.91 Crore Duty Demand Upheld.</h1> The circular addresses the eligibility of circulating and hydraulic oils for exemption under Notification No. 120/84-CE dated 11.5.84, which pertains to lubricating oils. The Indian Oil Corporation Ltd. claimed this exemption for oils from its Trombay refinery, but penalties were imposed as these oils are not typically used as lubricants. The jurisdictional Commissioner upheld a duty demand of Rs. 24.91 crores and a penalty of Rs. 2.00 crores. The Committee of Disputes denied permission for an appeal, affirming the oils' ineligibility for exemption. The Board calls for verification of similar cases in other units.
TaxTMI 
TaxTMI 
