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26
th
February, 2004
Notification No. 14 /2004-Central Excise
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-
section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957),and sub-
section (3) of section 3 of the Additional Duties of Excise (Textile and Textile Articles) Act,1978 (40 of 1978), the Central
Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further
amendments in the notification of the Government of India, in the erstwhile Ministry of Finance and Company Affairs
(Department of Revenue) vide No.22/2003-Central Excise, dated the 31
st
March , 2003, namely,-
In the said notification, in the paragraph 8, -
(a)
for the words "to any other place in India,
as the case may be, in accordance with
the Export and Import Policy-" the words, "
to any other place in India or to debond in
accordance with the Export and Import
Policy-" shall be substituted;
(b)
for clause (i), the following clause shall be
substituted , namely:-
" (i)
such clearance or debonding of capital goods may be allowed on payment of
an amount equal to the excise duty leviable on such goods on the depreciated
value thereof and at the rate in force on the date of payment of such duty. The
depreciation shall be allowed at the rate of twenty per.cent per annum of the
original value in respect of computer or computer peripherals items and ten
per.cent per annum in case of other capital goods;"
(c)
in clause (ii), for the words "such
clearance", the words " such clearance or
debonding" shall be substituted;
(d)
in clause (iii), for the words "such
clearance", the words " such clearance or
debonding" shall be substituted.
V.Kezo
Under Secretary to the Government of India.
F. No. 305/168/2003-FTT]
Note: The principal notification No. 22/2003-Central Excise dated the 31
st
March, 2003, was issued vide G.S.R. 265 (E),
dated the 31
st
March, 2003 and was last amended by notification No 1/2004-CE dated 2
nd
January, 2004 vide G.S.R 2(E)
dated the 2
nd
January, 2004.
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