Question

Rohini Cement Limited purchased on 1st April, 2015 a plant for 80,000. On 1st July,
2016. it purchased additional plant costing 48,000. On 1st December, 2017, the plant
purchased on 1st April 2015 was sold off for 42,000 and on the same date fresh plant was
purchased at the cost of 75,000.
Depreciation is provided at 10% per annum on the Diminishing Balance Method every
year. Accounts are closed each year on 31st March.
Show the Plant account for 3 years. IGST is charged @ 12% on purchase and sale of
plant.( with working notes)​

Answer 1

So the according to the question the correct answer is given in the attachment

Answer 2

Answer:

The Plant's three-year account on the purchase and sale of plants, IGST is charged at 12%, or Rs. 1,12,460.

Explanation:

What is IGST?

• Integrated Goods and Services Tax is referred to as IGST. One of the three parts of the goods and services tax is the IGST. IGS tax is imposed whenever goods and services are transferred between states. The central government intended to combine all the various indirect taxes into one when it implemented GST in July 2017. GST was introduced to streamline the demand and supply side of the indirect taxation system.
• India is a federal nation with multiple levels of government. Both the federal government and state governments are allowed to levy and collect taxes.

To learn more about  taxes refer to:

https://brainly.in/question/20268597

https://brainly.in/question/6135106

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