Depreciation admissible in respect of Capital Goods to EOU/ EHTP/ STP

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of Capital Goods to EOU/EHTP/STP I am directed to invite your attention to the Notifications Nos 52/2003-Cus and 22/2003-CE both dated the 31st March, 2003 governing duty free import and procurement by EOUs and units in EHTP/ STP. In the said notifications, it has been provided that in respect of clearance of capital goods by EOU/EHTP/STP units depreciation at the rate of 20% per annum of the o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....g depreciation to EOU/EHTP/ STP units. In the field formations, in some Commissionerates , depreciation is being calculated for full years only. 3. The matter has been examined by the Board. In terms of the above stated notification depreciation is admissible till the date of payment of duty. Therefore, there is no basis for contending that depreciation would be allowed for full year or quarter ....