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Foreign Trade Policy substitution updates excise exemptions and debonding depreciation rules and donation spares textile clearance conditions The notification amends Central Excise notifications 22/2003 and 23/2003 to substitute 'Foreign Trade Policy' terminology, revise exemption provisos, and update Handbook cross references. Key operative changes include: a restriction denying input exemption where finished articles are non excisable or subject to nil customs duty; a donor donation exemption for domestically procured computer equipment with five year non diversion and inspection conditions; a prescribed straight line quarterly depreciation schedule for debonding capital goods (including full depreciation allowance); allowance of spares up to 1.5% FOB for after sale service; and certified limited clearance of leftover textile material into the Domestic Tariff Area. Explanations are revised to treat supplies from certain export units as imported.
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Foreign Trade Policy substitution updates excise exemptions and debonding depreciation rules and donation spares textile clearance conditions
The notification amends Central Excise notifications 22/2003 and 23/2003 to substitute 'Foreign Trade Policy' terminology, revise exemption provisos, and update Handbook cross references. Key operative changes include: a restriction denying input exemption where finished articles are non excisable or subject to nil customs duty; a donor donation exemption for domestically procured computer equipment with five year non diversion and inspection conditions; a prescribed straight line quarterly depreciation schedule for debonding capital goods (including full depreciation allowance); allowance of spares up to 1.5% FOB for after sale service; and certified limited clearance of leftover textile material into the Domestic Tariff Area. Explanations are revised to treat supplies from certain export units as imported.
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