Maurya Traders engaged in wholesale trade, made inter-state supply of ₹ 8,00,000 (without GST) in October, 2022. The rate of GST applicable is 12%. It has input tax credit viz. in ITGST ₹ 40,000; SGST ₹ 60,000; and CGST
CS Executive · Tax Laws · PYQS · June 2023
Maurya Traders engaged in wholesale trade, made inter-state supply of ₹ 8,00,000 (without GST) in October, 2022. The rate of GST applicable is 12%. It has input tax credit viz. in ITGST ₹ 40,000; SGST ₹ 60,000; and CGST ₹ 20,000. After adjustment of ITC, how much would be available in the credit ledger of Maurya Traders?
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: GST
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