Question

Nazama is a proprietor of a firm, registered under GST. She has paid GST of Rs. 12,500 on purchase and collected Rs. 14,750 on sale. What is the amount of ITC to be claimed ? What is the amount of GST payable ? in step by step answer
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Answer 1

Answer:

Cost Price GST = 12500 rupees

SP GST========14750 rupees

amount ITC to be claimed = 14750-12500

ITC= 2250 rupees

Amount of GST payable= (CP GST + SP GST ) - ITC

(12500 +14750 )-2250

= 27250 -2250

=25000 rupees

itc = 2250 \: \: \: gst = 25000itc=2250gst=25000

Answer 2

Answer:

Step-by-step explanation:

Cost Price GST = 12500 rupees

SP GST=14750 rupees

amount ITC to be claimed = 14750-12500

ITC= 2250 rupees

Amount of GST payable= (CP GST + SP GST ) - ITC

(12500 +14750 )-2250

= 27250 -2250

=25000 rupees

itc = 2250

gst = 25000