XYZ Ltd of Jaipur purchased on 1.8.2019 a machine for ₹10 lakh and paid IGST @ 12%. The ITC of the capital goods used in business was claimed till the machine was sold on 5.12.2020 for ₹6,00,000 to Yadav Enterprises of J
CS Executive · Tax Laws · PYQS · December 2021
XYZ Ltd of Jaipur purchased on 1.8.2019 a machine for ₹10 lakh and paid IGST @ 12%. The ITC of the capital goods used in business was claimed till the machine was sold on 5.12.2020 for ₹6,00,000 to Yadav Enterprises of Jaipur by charging tax under GST @ 12%. Find out the amount of tax payable/ITC reversible.
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: GST
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