Question

2. A shoe manufacturer purchases goods worth 78000
from the markets within the state. He sells his product
in the neighbourhood market for 90000. If the
common rate of GST is @ 18%, find the GST payable/
GST credit for the above transaction.​

Answer 1

Step-by-step explanation:

In put tax =18%of78000

=18/100*78000

=14040

In put tax =14040

Out put tax=18%of90000

=18/100*90000

=16200

Out put tax =16200

GST payable = Out put tax -In put tax

=16200-14040

= 2160

GSTpayable = 2160