Itc related question

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Surajit Sarkar (Querist)
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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

RAJA P M

RAJA P M (Expert)
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15 January 2018 He will claim 40%....
He will be "SHOW" the ITC 100% and "REVERSE" the ITC 60%

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Surajit Sarkar

Surajit Sarkar (Querist)
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15 January 2018 I don't understand your answer. kindly explain and answer a or b

RAJA P M

RAJA P M (Expert)
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15 January 2018 How to you define 64 and 28...?

Surajit Sarkar

Surajit Sarkar (Querist)
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15 January 2018 IT IS QUESTION. ANSWER IS OPTION A OR B. WHICH OPTION IS CORRECT? THIS QUESTION IS NSDC QUESTION PAPER.

RAJA P M

RAJA P M (Expert)
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15 January 2018 Oh.... As per question the ans is 64....

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Surajit Sarkar

Surajit Sarkar (Querist)
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16 January 2018 But another experts answered it is 24. So i am confused. kindly discuss your view.

Surajit Sarkar

Surajit Sarkar (Querist)
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20 January 2018 Raja Babu kindly answer.

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