Allowance in case of volatile warehoused goods - CBEC's Customs Manual 2023 - Customs

17. Allowance in case of volatile warehoused goods: 17.1 Section 70 of the Customs Act, 1962 provides that when any warehoused goods at the time of delivery from a warehouse are found to be deficient in quantity on account of natural loss, the Assistant/Deputy Commissioner of Customs may remit the duty on such deficiency. 17.2 Notification No. 03/2016 -Customs (N.T.) dated 11.01.2016 issued under Section 70 (20) of the said Act specifies the goods on which duty may be remitted on account of natural loss, having regard to the volatility of the goods and the manner of their storage. These goods are: (i) aviation fuel, motor spirit, mineral turpentine, acetone, methanol, raw naptha, vaporizing oil, kerosene, high speed diesel oil, batching oil, diesel oil, furnace oil and ethylene dichloride, kept in tanks; (ii) wine, spirit and beer, kept in casks: (iii) liquid helium gas kept in containers; and (iv) crude stored in caverns.