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Depreciation on Cement Plant and machinery

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17 May 2017 A company is engaged in manufacturing of cement It is a continuous process plant company wants to claim extra shift depreciation Allowance therefore under companies act the life of the asset is to be taken as 25 years or 8 years
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CA Amrita Chattopadhyay

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CA Amrita Chattopadhyay (Expert)
18 May 2017 Part A of Schedule II for depreciation states that the company can adopt different useful life of asset by providing proper disclosure. Further, it is also clarified that life of asset cannot be longer than useful life specified. In your case, Schedule II does not specify for Cement Industry. For the continuous process plant the life is stated to be 25 years. As per part A of Schedule II 8 years can be adopted with proper justification for the same.
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