Clarification Sought on Depreciation Benefits for Developers During SEZ De-Notification

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....lot No. 6/1, MIDC, Phase-III, Hinjewadi, Pune - 411057 E-mail: [email protected], Web-site: www.seepz.gov.in F. No. SEEPZ-SEZ/JDC-Pune/09/2018-19 Date: 15.01.2024 To, The Director, Ministry of Commerce & Industry (SEZ Division), Udyog Bhawan, New Delhi. Sir Sub : Clarification with regard to depreciation in value on capital goods to Developers at the time of de-notific....

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....der : a. Duty shall be levied on such goods on the depreciated value thereof and at the rate in force on the date of removal of the goods ; b. ............. c. ............ As per the provisions of the above Rule, the depreciation of value for benefit availed. is applicable only to the Units. (emphasis supplied) 4. However, in this regard, reference is drawn ....

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....er. (emphasis supplied) 6. It is relevant to mention that MOC&I vide Note dated 25.11.2022 (copy enclosed as Annexure-1) had clarified that there is no provision in the present SEZ law for depreciation of value for benefit availed by developer. 7. In view of the above, clarification is sought as to whether the benefit of depreciation of value, provided in terms of Rule 49 of the SEZ Rules, c....