A retailer purchases goods for Rs. $4000$ + $5\%$ GST and sells for Rs. $5000$ + $5\%$ GST. GST payable to…
A retailer purchases goods for Rs. $4000$ + $5\%$ GST and sells for Rs. $5000$ + $5\%$ GST. GST payable to government (after input tax credit) is
- Rs. $50$
- Rs. $250$
- Rs. $200$
- Rs. $300$
Solution
Output GST $= 250$. Input GST $= 200$. Net payable $= 250 - 200 = 50$.
Asked in: MH-SSC-9
Practice more Financial Planning questions on Aicharya