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of <h1>Board Clarifies Measurement and Condonation of Storage and Handling Losses for Petroleum Products in Refineries.</h1> The circular addresses inconsistencies among Central Excise Collectorates regarding the condonation of storage and handling losses of petroleum products in refineries. It clarifies that storage losses should be measured by the difference in dip readings of storage tanks before and after operations. Handling losses occur during the transfer from storage tanks to transport vehicles and should be measured similarly. The Board mandates that these losses be accounted for on a monthly cumulative basis, following specific guidelines. All Collectorates are instructed to adhere strictly to these methods for determining and condoning losses.
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