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of <h1>Finance Ministry Updates Depreciation Rules for Second-Hand Machinery Valuation; Chartered Engineer's Certificate Price Now Key.</h1> The circular from the Ministry of Finance addresses the valuation of second-hand machinery for customs purposes, specifically concerning the calculation of depreciation. It clarifies that when a Chartered Engineer's certificate only mentions the current price of new machinery without specifying if it pertains to the year of manufacture, the depreciation should be based on this declared price. This modifies previous instructions by allowing depreciation calculations based on the current price mentioned in the certificate, regardless of whether it reflects the current c.i.f. price or the price at the time of manufacture.
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