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of <h1>Ministry of Finance Clarifies Depreciation Rates for Capital Goods from Kandla Free Trade Zone Under Notification No. 274/87-C.E.</h1> The circular issued by the Ministry of Finance, Department of Revenue, addresses the rate of depreciation for capital goods cleared from the Kandla Free Trade Zone upon payment of duty. It references Notification No. 274/87-C.E., which amends a previous notification to allow indigenously procured capital goods to be removed from the zone at a depreciated value. Existing instructions on calculating depreciation for customs purposes should also apply to central excise for units in the zone. The circular advises issuing a trade notice to inform relevant parties.
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