old Machinery sale accounting under gst
M.G.SANKAR (Student) (55 Points)
20 November 2018and return filing?
M.G.SANKAR (Student) (55 Points)
20 November 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 20 November 2018
Cash / Bank account debit
Loss on sale account debit (in case of loss)
To machinery account
To profit on sale (in case of profit)
As per income tax profit / loss is calculated only when entire block is been sold.
RAJA P M
("Do the Right Thing...!!!")
(127074 Points)
Replied 20 November 2018
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