selling out the old machinery

[Aditya badraika]

first thing can any 1 tell me how to check the current value of machinery in balance sheet

and second thing what is the procedure to sell the machinery

we have to make a sell billl for the machinery or first we have to make the agreement regarding for selling the machinery & how to make sale bill including gst

AI Summary

Guidelines for Selling Machinery: Check Asset Code, Depreciation Ledger, and Prepare Sale Bill with GST Compliance. A user inquired about determining the current value of machinery in the balance sheet and the procedure for selling it, including the creation of a sale bill with GST. The first response advised checking the organization's asset code and depreciation ledger to find the written down value (WDV) of the asset. It also mentioned selling the asset with applicable taxes. The second response suggested referring to the asset register and preparing an agreement, purchase order, or contract before selling. It confirmed that taxes should be paid on the WDV under GST laws.