All oil PSUs get excise relief on supplies to Navy now
New Delhi   24-Jul-2010

The government on Friday said all the public oil marketing companies will get excise duty exemption on fuel supplies to the Navy and the Coast Guard. Earlier this facility was available only to IndianOil. The Central Board of Excise today said all the state oil companies will get the excise duty waiver to the fuel supplies to Navy and the Coast Guard. The excise duty exemption on petroleum oils and oils obtained from bituminous minerals manufactured and supplied by IOC for consumption on board a vessel of the Navy and the Coast Guard has been in place since November 2007. The state oil companies can also avail exemption on fuel procured from any other fuel manufacturer if it is supplied to the Navy or the Coast Guard.