Petroleum Act, 1934
7. No license needed for transport or storage of limited quantities of petroleum Class B or petroleum Class C
Notwithstanding anything contained in this Chapter, a person need not obtain a license for the transport or storage of -
(i) petroleum Class B if the total quantity in his possession at any one place does not exceed two thousand and five hundred liters and none of it is contained in a receptacle exceeding one thousand liters in capacity; or
(ii) petroleum Class C if the total quantity in his possession at any one place does not exceed forty-five thousand liters and such petroleum is transported or stored in accordance with the rules made under section 4.