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sold of machinery

This query is : Resolved 
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(Querist)
24 May 2011 Machinery purchase dt 21.4.2011
Sold dt 23.5.2011
Excise duty should be charged same as per purchase value or reduce rate proportion to month.
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Kumar Babu.G

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Kumar Babu.G (Expert)
24 May 2011 As per Excise Act fixed depreciation has to be provided yearly.Since it is sold in the same year no deduction.Duty has o be paid on entire value.
Profile Image

Kumar Babu.G

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Kumar Babu.G (Expert)
24 May 2011 As per Excise Act fixed depreciation has to be provided yearly.Since it is sold in the same year no deduction.Duty has to be paid on entire value.
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