Duty demand in petroleum products should be based on net quantity after adjusting gain and loss

Chennai Petroleum Corporation Ltd Vs Commissioner of GST & Central Excise (CESTAT Chennai) CESTAT Chennai held that net quantity after adjusting the gain and loss has to be taken for demand of duty in case of petroleum products. Facts- The appellant is a Public Sector Undertaking and is engaged in the manufacture of petroleum products. Based on intelligence that appellants were not discharging the appropriate duty on the quantity of petroleum products cleared through pipelines from their refinery, the officers of DGCEI visited their refinery and collected details. It was noted that the app...