New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Depreciation in cases where NFE has not been achieved

Central Excise - 100% Export Oriented Unit Scheme - 100% EOU Scheme - 61 - Para 6.15(b) and para 6.18(e) of FTP provide that depreciation in case of clearance or debonding of capital goods for disposal in DTA and exit from the scheme respectively is admissible only when the unit has achieved positive NFE taking into consideration of depreciation allowed. The notifications governing duty free import and procurement by EOUs have been suitably amended by notifications Nos. 60/2008-Customs and 26/20 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

example:- Supposing a unit imports a C.G and subsequently wants to clear it after 2 years of use. According to rate of depreciation, the unit is entitled for 32% depreciation. Hence the unit would be required to fulfill NFE 32% over and above its normal NFE requirement, If the unit s NFE achievement falls short, by say, 20%, then in such situation, only 12% depreciation would be allowed to the unit. Para 6.18(e) of the FTP has been amended so as to provide that in case of exit from EOU Scheme, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version