Question
A registered dealer sells goods worth ₹5,00,000 with GST @18%. He has input tax credit (IT
- C of ₹70,000. What is his net GST payable in cash?
More Taxation Related Questions
- Every bank has to maintain a certain % of their deposits in the form of (Gold + Cash + bonds + Securities) with themselves. This ratio is termed as:
- Salary received by the Partner of a Firm is charged under the head
- Mr. Y sold listed equity shares during the Financial Year 2024-25 after holding them for 18 months. The sale consideration amounted to ₹8,00,000, while the...
- Mr. A (age 45) has income from business ₹8,00,000 and capital gains (LTCG) ₹1,50,000. What is his tax liability? (Assume no deductions)
- A company avails ITC (Input Tax Credit) on office furniture purchase. Later, GST auditor disallows it. Is he right to do so, support your answer with relev...
- A way by which the companies raise capital without going to the public is known as __________________
- Mr. A transfers fixed deposit of ₹5 lakh to his wife without consideration. Interest of ₹50,000 is earned in her name. How will it be taxed?
- An employee receives gratuity of ₹12 lakhs on retirement. What is the maximum tax-exempt amount under the Income Tax Act?
- A company earns ₹15 lakh net profit before tax. It donates ₹1 lakh to PM CARES Fund and claims depreciation of ₹2 lakh. What is taxable income under Income...
- Deduction under Section 80C is available up to:
Relevant for Exams:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt