How to calculate net profit in hand in gst
Answers!
Suppose
sales
300000
Purchases
150000
gst rate
5%
NORMAL SCHEME
COMPOSITION SCHEME
PARTICULARS
AMT
RATE
GST
PARTICULARS
AMT
RATE
CGST
OUTPUT
300000
5.0%
15000
OUTPUT
300000
5.0%
15000
INPUT
100000
5.0%
5000
INPUT
0
PAYABLE
10000
PAYABLE
15000
P&L
P&L
EXP
AMT
INCOME
AMT
EXP
AMT
INCOME
AMT
PURCHASES
100000
SALES
300000
PURCHASES(PURCHASE+TAX)
105000
SALES
315000
FOOD ITEMS
90000
FOOD ITEMS
90000
RENT
59000
RENT
59000
TAX EXP
15000
PROFIT
51000
PROFIT
46000
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Answer the question...
| Suppose | ||||||||
| sales | 300000 | |||||||
| Purchases | 150000 | |||||||
| gst rate | 5% | |||||||
| NORMAL SCHEME | COMPOSITION SCHEME | |||||||
| PARTICULARS | AMT | RATE | GST | PARTICULARS | AMT | RATE | CGST | |
| OUTPUT | 300000 | 5.0% | 15000 | OUTPUT | 300000 | 5.0% | 15000 | |
| INPUT | 100000 | 5.0% | 5000 | INPUT | 0 | |||
| PAYABLE | 10000 | PAYABLE | 15000 | |||||
| P&L | P&L | |||||||
| EXP | AMT | INCOME | AMT | EXP | AMT | INCOME | AMT | |
| PURCHASES | 100000 | SALES | 300000 | PURCHASES(PURCHASE+TAX) | 105000 | SALES | 315000 | |
| FOOD ITEMS | 90000 | FOOD ITEMS | 90000 | |||||
| RENT | 59000 | RENT | 59000 | |||||
| TAX EXP | 15000 | |||||||
| PROFIT | 51000 | PROFIT | 46000 | |||||
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