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[PUBLISHED IN THE GAZETTE OF INDIA, PART

– II, SECTION 3, SUBSECTION

Note:-

Act,1988 and subsequently amended by the following notifications, namely :--

(i) GSR 416(E) dated 14-5-1993;

(ii) GSR 756(E) dated 16-12-1993;

(iii) GSR 788(E) dated 04-11-1994;

(iv) GSR 101(E) dated 01-03-1995;

(v) GSR 500(E) dated 18-8-1998;
The Principal Schedule was inserted by the Companies Amendment

(i) EXTRAORDINARY]

GOVERNMENT OF INDIA

MINISTRY OF CORPORATE AFFAIRS

Notification

New Delhi, dated the 14 December, 2011.

G.S.R. (E) – In exercise of the powers conferred by sub-section (1) of section

641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby

makes the following alterations in the Schedule XIV of the said Act namely :--

In Schedule XIV to the Companies Act, 1956, under the heading “II PLANT AND

MACHINERY”, under item (ii) relating to special rates, in sub-item B.7, for the

entries, the following entries shall respectively be substituted, namely :--

Schedule XIV

Rates of depreciation

Name of assets Single Shift Double Shift Triple Shift

---------------- ----------------- ---------------

W.D.V. S.L.M. W.D.V. S.L.M. W.D.V. S.L.M.

1 2 3 4 5 6 7

------------------------------------------------------------------------------------------------------------

“7. Mineral oil

Concerns

Field

operations 30 11.31 -- -- -- --

(above ground) percent. percent.

Portable boilers,

drilling tools,

well-head tanks,

etc. (NESD)

7A. Rigs (NESD) 10 3.34 -- -- -- -- “

percent. percent.

------------------------------------------------------------------------------------------------------------

F : 2/6/2008 CL-V

-sd-

(U C Nahta)

Director (Inspection & Investigation)

GST RATES FINDER GST ACTS BOOK (DECODING GST) GST RULES GST PROVISIONAL REGISTRATION MODEL GST LAW LEVY OF TAX

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Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .