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of <h1>India Amends Excise Duty Rules for UN Projects: Transfer or Depreciate Goods Cleared Before March 2008</h1> The Government of India has amended Notification No. 108/95-Central Excise, dated August 28, 1995, concerning the exemption of goods supplied to UN or international organizations. The amendment allows manufacturers to either transfer goods cleared before March 1, 2008, to a new project with necessary certifications or pay excise duty on the depreciated value of goods no longer required for the original project. Depreciation is calculated using a straight-line method, with rates varying from 4% in the first year to 2% in subsequent years, capped at a maximum of 70%.
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