We are trading in machinery & we would like to give used machines to the charitable trust as a donation. So require suggestion from your goodselfs, how to generate invoices? & GST will be applicable.
31 August 2020
in some cases, on sale of machinery, all depreciation claimed in earlier years will get reversed and will be credited to P/L as other income to be taxed.
You can donate them to any organisation. Just prepare a delivery challan with a GST invoice with Rs. 1+ GST to account the same in the books of the company.
CAclubindia
