Mathematics
The marked price of an article is ₹ 1,000, which is available at a discount of 20% with GST rate 12%.
Assertion (A): The GST on the sale = 12% of discounted value.
Reason (R): The GST on the transaction = (100 - 20 + 12)% of marked price.
A is true, R is false.
A is false, R is true.
Both A and R are true and R is the correct reason for A.
Both A and R are true and R is the incorrect reason for A.
Related Questions
Manu purchases some goods for ₹ 2000 and sells them for ₹ 2500. If the rate of GST is 18%, the tax liability on Manu is :
₹ 360
₹ 450
₹ 90
₹ 900
Reena buys a certain goods for ₹ 4000 and sells them to Ashok at a profit of ₹ 500. If Ashok does not sell the goods further and rate of GST = 5%, the output GST for Ashok is :
₹ 225
₹ 175
₹ 25
₹ 00
For a trader X, GST paid is ₹ 600 and GST collected is ₹ 720.
Assertion (A): GST paid by the trader to the Government is ₹ 120.
Reason (R): GST deposited with the Government
= Output Tax - Input tax
= GST collected - GST paidA is true, R is false.
A is false, R is true.
Both A and R are true and R is the correct reason for A.
Both A and R are true and R is incorrect reason for A.