Smt Malhotra purchased solar panels for the taxable value Rupees 85000 – InterviewSolution

InterviewSolution

1.	Smt Malhotra purchased solar panels for the taxable value Rupees 85000. She soldthem for Rupees 90000. The rate of GST is 5%. Find the ITC of Smt Malhotra . What is the amountof GST payable by her ?
Answer» Correct Answer - Smt Malhotra will get Rupees 4250 as ITC. She will have to pay Rupees 250 as GST. The tax paid at the time of purchase `= Rupees 85000xx ( 5)/( 100) = Rupees 4250` `:. `input tax `= Rupees 4250 ` `:. ITC = Rupees 4250` Output tax `= Rupees 90000 xx ( 5)/( 100) = Rupees 4500` PayableGST = Output tax - ITC `= Rupees ( 4500- 4250 ) = Rupees 250`

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