Investor Presentaiton
Exit from GIFT City / IFSC
fin
in case the Unit has failed to fulfill the terms and conditions of the Letter of Approval and penal proceedings are to
be taken up or are in process, a legal Undertaking for payment of penalties, that may be imposed, shall be
executed with the DC.
The Unit shall continue to be treated a unit till the date of final exit.
➤ Depreciation shall be allowed in straight line method as specified below:-
- for computer and computer peripherals for every quarter in the 1st, 2nd and 3rd year at the rate of 10%, 8% and
5% respectively and for every quarter in the 4th and 5th year at the rate of 1%.
- for capital goods other than computer and computer peripherals for every quarter in the 1st, 2nd, 3rd year at
the rate of 4%, 3% and 3% respectively, for every quarter in the 4th and 5th year at the rate of 2.5% and thereafter
for every quarter at the rate of 2%. For the purpose of computing depreciation for any part of a quarter, the rate
applicable to such quarter in full shall be considered.
In the event of a gems and jewellery unit ceasing its operation, gold and other precious metals, alloys, gem and
other materials available for manufacture of jewellery shall be handed over to an agency nominated by the Central
Government at a price to be determined by that agency. Development Commissioner may permit a Unit, as one
time option, to exit from Special Economic Zone on payment of duty on capital goods under the prevailing Export
Promotion Capital Goods Scheme under the Foreign Trade Policy subject to the Unit satisfying the eligibility criteria
under that Scheme.
Khandhar Mehta & Shah | Chartered Accountants
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