<h1>New Excise Rule Exempts Major Oil Corporation's Fuel Supplies to Indian Navy, Coast Guard from Duty.</h1> The Central Government has issued a notification amending previous excise regulations to exempt the manufacture and supply of certain fuels by a major oil corporation to the Indian Navy or Coast Guard from excise duty. This exemption applies when the fuels are either manufactured by the corporation or procured from another manufacturer and supplied for use on naval or coast guard vessels. The corporation must register with the relevant excise authorities, maintain detailed records, and submit monthly reconciliation statements. Failure to comply with these conditions will result in the corporation being liable to pay the applicable excise duty with interest.