Donate machinery to trust

This query is : Resolved

JITENDRA RAMESH MORE (Querist)
Follow

28 August 2020 Dear Sir\Madam,

We are trading in machinery & we would like to give used machines to the charitable trust as a donation. So require suggestion from your goodselfs, how to generate invoices? & GST will be applicable.

Thanking you

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

31 August 2020 in some cases, on sale of machinery, all depreciation claimed in earlier years will get reversed and will be credited to P/L as other income to be taxed.

You can donate them to any organisation. Just prepare a delivery challan with a GST invoice with Rs. 1+ GST to account the same in the books of the company.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok