Rate of depreciation in case of capital goods allowed to be cleared from the Kandla Free Trade Zone on payment of duty/Instructions regarding - Central Excise - 41/87

Rate of depreciation in case of capital goods allowed to be cleared from the Kandla Free Trade Zone on payment of duty/Instructions regarding Circular No. 41/87 Dated 1-12-1987 [From F. No. 202/3/870-CX.6] Government of India Ministry of Finance (Department of Revenue) New Delhi Subject : Rate of depreciation in case of capital goods allowed to be cleared from the Kandla Free Trade Zone on payment of duty/Instructions regarding. The Notification No. 274/87-CE dated 3.11.1987 has recently been issued amending Notification No. 272/79-Central Excises dated 18.10.1979 so as to allow indigenously procured capital goods to be removed from the Kandla Free Trade Zone, subject to certain conditions, on payment of duty at the depreciated value of the capital goods. Instructions (F. No. 305/52/85-FTT dated 15th April, 1987-copy enclosed) (not printed) already exist on the customs side regarding the method of calculation of depreciation on such capital goods. The Board desires that for central excise purposes also the above instructions should mutatis mutaindis apply, so far as they relate to units situated in the Kandla Free Trade Zone. 2. A suitable trade notice may also be issued for the benefit for the trade.