Mishra Enterprises of Ahmedabad had made supplies of ₹3,50,000 to Beeta Enterprises of Ahmedabad. Municipal Authorities of Ahmedabad on such supplies levied the tax @ 10% of ₹35,000. CGST and SGST chargeable on the suppl

CS Executive · Tax Laws · PYQS · December 2020
Mishra Enterprises of Ahmedabad had made supplies of ₹3,50,000 to Beeta Enterprises of Ahmedabad. Municipal Authorities of Ahmedabad on such supplies levied the tax @ 10% of ₹35,000. CGST and SGST chargeable on the supply was of ₹42,000. Packing charges not included in the price of ₹3,50,000 amounted to ₹5,000. Subsidy of ₹20,000 was received from an NGO on the sale of such goods and the price charged of ₹3,50,000 is after taking in to account the amount of subsidy so received. Discount offered is @ 2% which was mentioned on the invoice. The value of supply in this case shall be __________.
(A) ₹4,46,500
(B) ₹4,03,000
(C) ₹4,52,000
(D) ₹4,01,800

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: GST

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