Question

accounts depreciation solutionChandra Ltd purchase second hand machine for rupees 8000 + cgst and sgst 60 percentage on 1st July 2015 they spent 3500 on its overhaul and installation depreciation is written off at 10% on the original cost on 30 September 2018 the machine was found to be insertable and sold for 6500 prepare the machinery account for for 4 years assuming that accounts are closed on 31st March ​

Answer 1

Answer:

CGST and SGST Paid will not be recorded in this because GST paid is not a cost of machinery and it can be set off at the time of its selling.