Question

Smt. Malhotra purchased solar panels for the taxable value of Rs. 85,000. She sold them for Rs. 90,000. The rate of GST is 5%. Find the ITC of Smt. Malhotra. What is the amount of GST payable by her?

Answer 1

C.P. = Rs 85000 

S.P. = Rs 90000

(ITC) = `85000 xx 5/100 = "Rs "4250`

Output tax = 5 % of 90000

`90000 xx 5/100 = "Rs " 4500`

Amount of G.S.T. ⇒ 4500 - 4250 = Rs 250

Thus, amount of ITC = 4250/-

amount of GST = 250/-