Mr. A bought a machinery for ₹ 1,00,000 on which IGST was paid @ 18% (i.e. ₹ 18,000). After use of machine for 3 years, 7 months and 15 days. Mr. A decided to convert from normal to composition scheme. The amount to be reversed in this case is :
A. ₹ 18,000
B. ₹ 4,800
C. ₹ 9,000
D. ₹ 4,000
Answer:B
Mr. A bought a machinery for ₹ 1,00,000 on which IGST was paid @ 18% (i.e. ₹ 18,000). After use of machine for 3 years, 7 months and 15 days. Mr. A decided to convert from normal to composition scheme. The amount to be reversed in this case is :
A. ₹ 18,000 B. ₹ 4,800 C. ₹ 9,000 D. ₹ 4,000