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of <h1>New Amendment Allows Falta Export Zone Units to Withdraw or Dispose Capital Goods After 3 Years With Duty Payment</h1> The Central Government issued an amendment to the Customs Notification No. 262-Customs, dated August 16, 1985, under the Customs Act, 1962. This amendment introduces a new provision allowing units in the Falta Export Processing Zone to withdraw from the Zone or dispose of capital goods outside the Zone, provided these goods have been used within the Zone for at least three years. The Collector of Customs can permit such actions upon payment of duty based on the depreciated value of the capital goods at the time of clearance, according to current import rates.
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