Question
A business availed ITC of ₹2 lakh on inputs used
partly for personal purposes. What should it do?Solution
Under GST, ITC can only be claimed for business use; proportionate reversal is mandatory for personal use.
If a sum of money is to be divided among A, B, C such that A’s share is equal to thrice B’s share and B’s share is 8 times C’s share then their ...
A and B together started a business with initial investment in the ratio of 1:2, respectively. The time-period of investment for A and B is in th...
Three individuals, S, V, and G, started a business together. S contributed 2/5 of the total investment, V contributed 4/7, and the remaining amount was ...
- 'X', 'Y' and 'Z' jointly opened a company by investing Rs. 2,400, Rs. 3,600, and Rs. 4,800 respectively. After 4 months, 'Y' withdrew Rs. 600. If the total...
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...
Anil and Sunil together start a business with investment of Rs. 1500 and Rs. ‘x + 1300’, respectively. If the profit earned after 5 years is...
Chintu and Jimmy started a business by investing Rs.(3a - 200) and Rs.(4a - 400) respectively. Chintu invests his amount for 8 months whereas Jimmy inve...
Raj and Anjan initiated a business with investments in the ratio of 4:5, respectively. After 4 months, Kumari joined the venture with an investment that...
‘A’ invested Rs. 7800 for ‘x’ months while ‘B’ invested Rs. 1300 less amount than ‘A’ for (x + 3) months...
A and B started a business with the investments of Rs. (y-2000) and Rs. (y+4000) respectively. After 4 months of the start of the business, B left it an...
