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of <h1>Government Specifies Volatile Goods Eligible for Duty Remission Due to Natural Loss per Customs Act Section 70(2)</h1> The Central Government, under sub-section (2) of section 70 of the Customs Act, 1962, specifies certain volatile goods eligible for duty remission due to natural loss when stored in a warehouse. These goods include aviation fuel, motor spirit, mineral turpentine, acetone, menthol, raw naphtha, vaporising oil, kerosene, high-speed diesel oil, batching oil, diesel oil, furnace oil, and ethylene dichloride stored in tanks, as well as liquid helium gas in containers. Additionally, wine, spirit, and beer kept in casks are also specified under this notification.
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