FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 15: Bharat Associates Pvt. Ltd. purchased machinery worth 29,00,000 (excluding GST) on 20-07- 2019 on which it paid GST @ 18% and availed the

image text in transcribed

Question 15: Bharat Associates Pvt. Ltd. purchased machinery worth 29,00,000 (excluding GST) on 20-07- 2019 on which it paid GST @ 18% and availed the ITC On 05-03-2020, it sold the machinery for 2 7,00.000 (excluding GST) to Hindustan Associates Pvt. Ltd. The GST rate on sale is 18%. What will be the course of action for Bharat Associates Pvt. Ltd. to follow under CGST Act, 2017

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Value Investing

Value Investing

Authors: Mike Hartley

1st Edition

979-8864443309

More Books

Students also viewed these Finance questions

Question

6. When currency is deposited in a bank, it starts a multiplier process in which banks lend out excess reserves, leading to an increase in the money supplyso banks create money. If the entire money...

Answered: 1 week ago

Question

★★★★★
Consider the following two-equation model: Y1t = A1 + A2Y2t + A3X1t + ult Y2t = B1 + B2Y1t + B3X2t + u2t where the Y's are the endogenous variables, the X's the exogenous variables, and the u's the...

Answered: 1 week ago

Question

★★★★★
Question 15: Bharat Associates Pvt. Ltd. purchased machinery worth 29,00,000 (excluding GST) on 20-07- 2019 on which it paid GST @ 18% and availed the ITC On 05-03-2020, it sold the machinery for 2...

Answered: 1 week ago

Question

★★★★★
answer fast, data communication Bipolar-AMI This signal was created using AMI bi-polar encoding. Please enter the corresponding binary code below (for example 10101010101)

Answered: 1 week ago

Question

★★★★★
The system below consists of a light rod with 3 point masses attached. It is free to rotate about the axis indicated with a dotted line. m 13m R 3R 2m The system is initially stationary and...

Answered: 1 week ago

Question

★★★★★
Power represents the capacity of one person or group to secure compliance from another person or group. Nothing is said here about the right to secure complianceonly the ability. In contrast,...

Answered: 1 week ago

Question

★★★★★
Lego is liked by children as well as adults. Management at a lego company wonders if lego sets purchased for adults are on average more expensive than than lego purchased for children (because lego...

Answered: 1 week ago

Question

★★★★★
What are some strategies to address the problems and opportunities associated with working with a union or a union contract? Include the legal implications. Compare and contrast the costs of...

Answered: 1 week ago

Question

★★★★★
Sporty operates fitness center across Australia. The company is owned by the five directors who have financed the purchase of shares by taking out personal loans, which are secured on their homes....

Answered: 1 week ago

Previous Question Next Question