Gautam & Co. has ₹ 2,15,000 in electronic credit ledger as on 1st January, 2023. For the month of January, 2023 it has input credit of ₹ 60,000 and output tax for supplies of ₹ 1,20,000. In the assessment order passe
CS Executive · Tax Laws · PYQS · June 2023
Gautam & Co. has ₹ 2,15,000 in electronic credit ledger as on 1st January, 2023. For the month of January, 2023 it has input credit of ₹ 60,000 and output tax for supplies of ₹ 1,20,000. In the assessment order passed on 15th January, 2023 it has to pay penalty of ₹ 40,000, interest of ₹ 30,000 and fee of ₹ 5,000. After adjustment of eligible items how much would be available in its electronic credit ledger?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: GST
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