Question
Suppose in April
Purchase of a Company= 20000
Sales of a Company =30000
GST Rate =5%
What is ITC of April
View AnswerOutput GST=30000*5%=1500
Input GST=20000*5%=1000
GST Payable-1500-1000=500
GST Credit=0
Hence,
ITC of April =1000
Closing ITC of April = 0
Learn in your speed, with individual attention - Teachoo Maths 1-on-1 Class