Smt. Malhotra purchased solar panels for the taxable value of ` 85,000. She sold
them for ` 90,000. The rate of GST is 5%. Find the ITC of Smt. Malhotra. What is
the amount of GST payable by her ?
Answers
Answered by
3
Answer:
68990 is the right answer
Step-by-step explanation:
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Answered by
17
Answer:
Output tax = 5% of 90000
= 5/100 × 90000
= Rs 4500
Input tax. = 5% of 85000
= 5/100 × 85000
= Rs 4250
ITC = Rs 4250
GST payable = Output tax - 4250
= 4500 - 4250
Therefore, GST payable = Rs 250
Therefore, ITC of Smt. Malhotra is Rs 4250 and amount of GST payable by her is Rs 250
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