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of <h1>New Bond Format Required for Molasses Storage; Manufacturers Must Pay Duty on All Losses per Revised Central Excise Rules.</h1> The circular addresses the storage and accounting of molasses under Central Excise regulations. It highlights the requirement for manufacturers storing molasses in Katcha pits to execute a bond, as per a revised format, to safeguard against losses beyond permissible limits. The original B-2 bond and Rule 48 of the Central Excise Rules, 1944, have been deleted, necessitating a new bond format. This new bond, termed a 'Special bond,' obligates manufacturers to pay duty on any molasses losses, including those due to natural causes, without claiming remission. The circular requests early implementation of these instructions.
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