Modern Ltd. purchased a machinery on 1st August, 2015 for Rs. 60,000. On 1st October, 2016, it purchased another machine for Rs. 20,000 plus CGST and SGST @ 6% each. On 30th June, 2017, it sold the first machine purchased in 2015 for Rs. 38,500 charging IGST @ 12%. Depreciation is provided @ 20% p.a. on the original cost each year. Accounts are closed on 31st March every year. Prepare the Machinery A/c for three years.
