Mishra Enterprises had made supplies of ₹5,50,000 to Bee Kay Enterprises. Municipal Authorities of Jaipur on such supplies levied the tax @ 10% of ₹55,000. CGST and SGST chargeable on the supply was of ₹66,000. Packing c

CS Executive · Tax Laws · PYQS · December 2019
Mishra Enterprises had made supplies of ₹5,50,000 to Bee Kay Enterprises. Municipal Authorities of Jaipur on such supplies levied the tax @ 10% of ₹55,000. CGST and SGST chargeable on the supply was of ₹66,000. Packing charges not included in the price of ₹5,50,000 amounted to ₹15,000. Subsidy of ₹25,000 was received from an NGO on the sale of such goods and the price of ₹5,50,000 is after taking in to account the amount of subsidy so received. Discount offered is @ 1% which was mentioned on the invoice. The value of supply in this case shall be __________
(A) ₹6,45,000
(B) ₹6,39,500
(C) ₹6,20,000
(D) ₹6,38,550

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Goods and Services Tax (GST)

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