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of <h1>Amendment Clarifies 'Original Value of Investment' in Plant and Machinery Per Accounting Standards Under Excise Act</h1> The Central Government has amended Notification No. 39/2001-CE, dated July 31, 2001, under the Central Excise Act, 1944, and related acts. This amendment clarifies the term 'original value of investment in plant and machinery installed in the factory.' It specifies that this value should be determined according to the Accounting Standards issued by the Institute of Chartered Accountants of India for Accounting for Fixed Assets. This clarification aims to ensure consistency and accuracy in evaluating investments in plant and machinery for excise purposes.
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