identify the following statements whether it's Receipts or Expenditure 1)GST paid Rs 40000.
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Answer:
Rate of GST = 12% (Given)
Now,
Rate of CGST = Rate of SGST
Also,
Rate of CGST + Rate of SGST = Rate of GST
⇒ 2 × Rate of CGST = 12%
⇒ Rate of CGST = 6%
∴ Rate of SGST = 6%
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