Excise exemption for naval fuels conditioned on supplier registration, recordkeeping and monthly reconciliation, with duty for unaccounted supplies. Amends the Central Excise notification by exempting fuels under Chapter Heading 2710 when manufactured and supplied by Indian Oil Corporation Limited, or procured by IOCL from another manufacturer and supplied, as stores for consumption on board Indian Navy or Coast Guard vessels, subject to IOCL obtaining registration with the jurisdictional Assistant/Deputy Commissioner, maintaining records of receipt and supply, submitting monthly reconciliation statements and proving supplies to the satisfaction of the jurisdictional central excise officer; non-compliance attracts payment of excise duty on unaccounted fuels with interest.