Itc problem
This query is : Resolved
15 January 2018
A manufacturer paid input tax of Rs.60 for the Raw Materials purchased. In a month he did a sale worth Rs.500, of which 60% is exempted. Assuming GST rate at 18%. How much is the input tax credit can he claim?
a. 60
b. 24
a. 60
b. 24
17 January 2018
IF RAW MATERIAL IS USED IN SALE OF EXEMPTED GOODS, THEN ITC WILL BE 24 OTHERWISE FULL 60
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19 January 2018
Thank You Very Much Sir
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