Mathematics
For a registered dealer, if the input tax is ₹ x and output tax is ₹ y, then the tax liability on the dealer is:
₹ x
₹ (x - y)
₹(y - x)
₹ y
GST
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Answer
Option 3 is the correct option.
Reason
Given, input tax = ₹ x
output tax = ₹ y
Tax liability = Output tax - Input tax
= ₹ (y - x)
Hence, the tax liability on the dealer is ₹ (y - x).
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Related Questions
If the rate of GST is 18%, the IGST for an inter-state sale is:
9%
18%
6%
12%
If a dealer supplies goods worth ₹ 3,000 to another local dealer with 28% GST, then the tax levied under CGST is:
₹ 270
₹ 540
₹ 840
₹ 420
John sells goods worth ₹ 2000 to Manish belonging to the same state. John gives a discount of 20% and charges GST = 5%. Then John gets :
₹ 20
₹ 850
₹ 1680
₹ 2520
Fill in the blanks :
When the goods/services are sold for ₹ 15,000 under intra-state transaction from station A to station B and the rate of GST is 12%.
As per GST system
(a) S.P. (excluding GST) at station A = ……….
(b) CGST = …………….
SGST = …………….
(c) C.P. (excluding GST) at station B = …………
(d) If profit = ₹ 5,000
S.P. at station B = ………….
Now the same goods/services are moved under inter state transaction from station B to station C and the rate of tax is 12%.
(e) GST = ……….
(f) C.P. (excluding GST) at station C = ……….