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The term "Goods" under GST does not include money and securities. Money and securities are specifically excluded from the definition of goods in Section 2(52) of the Central Goods and Services Tax Act, 2017. This means that GST is not applicable to the sale or purchase of money and securities. Money includes coins, currency notes, bank notes, money orders, cheques, drafts, travelers’ cheques, and other instruments so far as they are used as legal tender.
‘A’ and ‘B’ invested Rs. 4800 and Rs. 3600, respectively in a business, together. After 6 months, ‘A’ withdrew 25% of his initial investment...
P and Q entered into partnership with Rs. 8000 and Rs. 12000 respectively. After 4 months P withdrew `1/4` of his stock but after 4 months more he put b...
A, B, and C started a partnership with initial investments of Rs. 17,200, Rs. 25,800, and Rs. 32,250, respectively. After 20 months, C completely withdr...
M and N started a business by investing Rs.5000 and Rs.6800 respectively. After 6 months, M and N increased their investments by 40% and Rs.2400 respect...
A’, ‘B’ and ‘C’ started a business by investing Rs. 8,000, Rs. 9,500, and Rs. 7,500, respectively such that ‘B’ invested for 2 months more...
Armaan, Malik, and Chinky collectively invested Rs. 1.05 lakh in a business. The investment ratios among them are such that Armaan's investment to Malik...
‘A’ started a business by investing Rs. 1800. Four months later, ‘B’ joined by investing Rs. ‘x’. If at the end of the year ‘B’ received...
A started a business with an investment of Rs.1500. After some months, B joins the business with an investment of Rs.3000 and after two more months C jo...
A and B entered into a business investing Rs. (x + 60) and Rs. (x – 55) respectively. After one year they invested Rs. 120 more and Rs. 150 more respe...
A and B invested Rs.6000 and Rs.9000 in a business respectively and after 5 months B withdrawn 50% of his initial investment and again after 5 months he...