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I am directed to invite your attention to the subject mentioned above and to say that a doubt has been raised whether the benefit of above exemption can be allowed to Furnace Oil even when the said oil is not directly used in the manufacture of fertilisers.
In the case of exports on an outright purchase in advance as per paragraph 8.59(ii) of the Handbook (Vol 1), the exports have to be completed within a maximum period of 180 days from the date of outright purchase of the precious metal provided the outright purchase was made on or before 11th September, 2001.
