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In Rule 52, for the words ‘the Commissioner shall’ the words ‘the Commissioner shall subject to the provisions of Rules 53, 54 and 55’ are substituted. This amendment is effective from 1st April 2005. This amendment is clarificatory in nature and has no effect on the position of set-off after amendment.
Rule 53 amended to provide that if the dealer manufacturer, of high-speed diesel oil, aviation turbine fuel, aviation gasoline and motor spirit covered under entries 5, 6, 7, 8, 9 and 10 of Schedule D, dispatches the goods by way of branch transfer, reduction in set-off should be calculated @2% of the values of goods dispatched.
Rule 54 amended with effect from 1-4-2005 so that set-off will not be admissible on purchase of the high-speed diesel oil, aviation turbine fuel (duty paid), aviation turbine fuel (bonded), aviation gasoline (duty paid or bonded), and petrol, unless such motor spirits are sold/resold in the course of interstate trade or commerce or in the course of export outside India.
