Itc related question
This query is : Open
Surajit Sarkar
(Querist)
15 January 2018
A manufacturer paid input tax of Rs.64 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. 64
b. 28
a. 64
b. 28
15 January 2018
He will claim 40%....
He will be "SHOW" the ITC 100% and "REVERSE" the ITC 60%
He will be "SHOW" the ITC 100% and "REVERSE" the ITC 60%
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Surajit Sarkar
(Querist)
15 January 2018
I don't understand your answer. kindly explain and answer a or b
Surajit Sarkar
(Querist)
15 January 2018
IT IS QUESTION. ANSWER IS OPTION A OR B. WHICH OPTION IS CORRECT? THIS QUESTION IS NSDC QUESTION PAPER.
15 January 2018
Oh....
As per question the ans is 64....
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Surajit Sarkar
(Querist)
16 January 2018
But another experts answered it is 24. So i am confused. kindly discuss your view.
Surajit Sarkar
(Querist)
20 January 2018
Raja Babu kindly answer.
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