Rex Ltd. purchased a machine for ₹5 lakhs plus GST 12% on 01.05.2019. It availed input tax credit and used the machine for manufacture of goods. On 12.12.2020, the machine was sold to its allied concern for ₹1,50,000 plu
CS Executive · Tax Laws · PYQS · June 2021
Rex Ltd. purchased a machine for ₹5 lakhs plus GST 12% on 01.05.2019. It availed input tax credit and used the machine for manufacture of goods. On 12.12.2020, the machine was sold to its allied concern for ₹1,50,000 plus GST @ 12%. How much is the GST payable on sale of machine ?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: GST
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