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of <h1>CBEC Circular: Guidelines for Extending Warehousing Facilities to Oil Companies to Avoid Revenue Blockage and Loss in India.</h1> The circular from the Central Board of Excise & Customs addresses the extension of warehousing facilities for oil companies in India. It states that new bonding facilities should not be extended in states where similar facilities are already available to any oil company, to prevent unnecessary revenue blockage. Before recommending new warehousing facilities, factors such as the distance from existing stations, transportation methods, the quantum and period of revenue blockage, and potential revenue loss due to transit or storage should be considered. The circular advises a thorough reexamination of these aspects before making recommendations.
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