Q1
Suppose in January
| Particular | Amount |
| Output GST | 100 |
| Input GST | 70 |
What is GST Payable?
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Q2
Now in Feb
| Particular | Amount |
| Output GST | 140 |
| Input GST | 150 |
What is GST Payable?
View Answer
Q3
Suppose in March
| Particular | Amount |
| Output GST | 300 |
| Input GST | 220 |
What is GST payable?
View Answer
Difference between GST Payable and GST Credit
| GST Payable | GST Credit |
| If Output is more than Input, difference is GST Payable | If Input is more than Output, difference is GST Credit |
| We have to pay this amount to governemnt by depositing challan | We do not have to pay challan. It gets added in input of next month |
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