TMI BlogAmendments in notification no. 84/97 Cus dated 11.11.1997 - Exemption to Imports by U.N. or International Organisation for execution of projects in IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 22/2014-Customs New Delhi, the 11th July, 2014 G.S.R. 469(E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with sub-section (4) of section 68 of the Finance (No.2) Act, 1996 (33 of 1996), the Central Government, being satisfied that it is nec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... concerned of the Central Government, State Government or Union territory Administration, as the case may be, that the goods are no longer required for the project and a declaration from the United Nations, the World Bank, the Asian Development Bank or any other international organization listed in the Annexure to the said notification that the said goods are required for the said new project whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... project. The depreciated value of the goods shall be equal to the original value of the goods at the time of import reduced by the percentage points calculated by straight line method as specified below for each quarter of a year or part thereof from the date of clearance of the goods, namely:- (i) for each quarter in the first year at the rate of 4 per cent; (ii) for each quarter in the sec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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