Question

Gst collected on sale=5000,gst paid at the time of purchase = 6000,itc=5000gst=5%.What is the ammount payable

Answer 1

Gst is collected on sale 5000

being Gst paid on purchase of goods 6000

The amount payable willbe 5000+5%gst at the given prices.

The total amount wiil be 5250 to pay.