https://www.taxtmi.com/caselaws?id=762571 Gujarat HC held that petitioner was entitled to exemption from excise duty on transit loss up to 1% for Naphtha and ATF cleared for export. The court found that revisional authority incorrectly ignored Notification No. 46/2001 which permits duty-free removal of petroleum products for export warehousing. Under Circular No. 261/1985, petitioner was entitled to transit loss exemption until goods reached warehouse for export purposes. The court distinguished storage loss (covered by Circular No. 804/2005) from transit loss claimed by petitioner. Demand for duty, interest and penalty was quashed, and Commissioner (Appeals) order was restored. en-us Thu, 10 Oct 2024 00:00:00 +0530 Wed, 04 Dec 2024 08:44:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762571 Gujarat HC held that petitioner was entitled to exemption from excise duty on transit loss up to 1% for Naphtha and ATF cleared for export. The court found that revisional authority incorrectly ignored Notification No. 46/2001 which permits duty-free removal of petroleum products for export warehousing. Under Circular No. 261/1985, petitioner was entitled to transit loss exemption until goods reached warehouse for export purposes. The court distinguished storage loss (covered by Circular No. 804/2005) from transit loss claimed by petitioner. Demand for duty, interest and penalty was quashed, and Commissioner (Appeals) order was restored. Case-Laws Central Excise Thu, 10 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762571