Amends notification no. 22/2003 and 23/2003 – Regarding EOUs/EHTP/STP Units

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....ntral Government, being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table hereto annexed shall be amended or further amended, as the case may be, in the manner specified in the corresponding entry in column (3) of the said Table, namely:- TABLE Serial number Notification number and date Amendments (1) (2) (3) 1. 22/2003- Central Excise, dated the 31st March, 2003, G.S.R. 265 (E), dated the 31^st March, 2003.   In the said notification,- (i) in the condition (4) of opening paragraph, in clause (a), after sub-clause (ii), fo....

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....l be substituted, namely:- "such clearance or debonding of capital goods may be allowed on payment of an amount equal to the excise duty on the depreciated value thereof and at the rate in force on the date of debonding or clearance, as the case may be, if the unit has fulfilled the positive NFE criteria taking into consideration the depreciation allowable on the capital goods at the time of clearance or debonding. In case of failure to achieve the said positive NFE, the depreciation shall be allowed on the value of capital goods in the same proportion as the achieved portion of NFE."; (iii) after paragraph 13, in the Explanation, after serial number (xii) and entry relating thereto, the following serial number and entry shall be inse....

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....oreign Exchange Earning; (iii)  the said goods are produced or manufactured by the unit wholly from the raw materials produced or manufactured in India except the use of duty paid imported inputs upto 3% of the FOB value of exports of the said unit in the preceding financial year; (iv)  the said unit exercises  an option in terms of Para 6.8 (l) of the Foreign Trade Policy for availing this exemption by informing in writing to the jurisdictional Deputy/Assistant Commissioner of Customs or Central Excise:   Provided that- (a) such option is exercised before effecting first clearances into Domestic Tariff Area on or after 1^st day of April in any financial year:       &nbsp....