GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION No. 11/2014-Central Excise
New Delhi, the 11th July, 2014
G.S.R. (E). - 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), 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 Ministry of
Finance (Department of Revenue),
No. 108/95-Central Excise, dated the 28th
August, 1995 which was published in the Gazette of India, Extraordinary, vide
number G.S.R. 602(E) dated the 28th August, 1995, namely: -
In the said notification, after the proviso, the following shall be inserted,
namely:-
“2. Where the said goods are cleared prior to the 1st March, 2008, the
manufacturer may -
- transfer the said goods to a new project subject to the condition that the
manufacturer produces before the Assistant Commissioner of Central Excise or
Deputy Commissioner of Central Excise, as the case may be, having jurisdiction
over the factory of manufacture, a certificate from the officer concerned of the
Central Government, State Government or Union territory Administration, as the
case may be, that the said goods are no longer required for the said project and
a declaration from the United Nations, the World Bank, the Asian Development
Bank or any other international organization listed in the Annexure to the said
notification that the said goods are required for the new project and the said
project has duly been approved by the Government of India; or
- pay duty of excise which would have been payable but for the exemption
contained herein on the depreciated value of the said goods subject to the
condition that the importer produces before the Assistant Commissioner of
Central Excise or Deputy Commissioner of Central Excise, as the case may be,
having jurisdiction over the factory of manufacture, a certificate from the
officer concerned of the Central Government, State Government or Union territory
Administration, as the case may be, that the said goods are no longer required
for the existing project. The depreciated value of the said goods
shall be equal to the original value of the goods at the time of clearance
reduced by the percentage points calculated by straight line method as specified
below for each quarter of a year or part thereof from the date of clearance of
the said goods, namely:-
- for each quarter in the first year at the rate of 4 per cent;
- for each quarter in the second year at the rate of 3 per cent;
- for each quarter in the third year at the rate of 2.5 per cent; and
- for each quarter in the fourth year and subsequent years at the rate of 2%,
subject to the maximum of 70%.”.
[F. No.334/15/2014-TRU]
(Akshay Joshi) Under Secretary to the Government of India
Note.- The principal
notification No. 108/95-Central Excise, dated the 28th
August, 1995 was published in the Gazette of India, Extraordinary, Part II,
Section 3, Sub-section (i) vide number G.S.R. 602(E) dated the 28th August, 1995
and last amended by
notification No.13/2008-Central Excise, dated the 1st March,
2008 which was published in the Gazette of India, Extraordinary, Part II,
Section 3, Sub-section (i) vide number G.S.R. 141(E) dated the 1st March,2008.