Maximum Depreciation allowable on Imported Second-Hand Machines is 70%: CESTAT [Read Order]

Maximum Depreciation - allowable - Imported - Second-Hand Machines - CESTAT - taxscan

The Kolkata bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the maximum depreciation that was allowable on second-hand machines that are imported is 70% in the appeal by India Potteries Ltd (the Appellant) against the order for enhancement of the declared value, by the Commissioner of Customs (Port) (the Respondent) India…

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