Itc problem
This query is : Resolved
16 January 2018
A manufacturer paid input tax of Rs.60 for the Raw Materials purchased. In a month he did a sale worth Rs.500, of which 60% is exempted. Assuming GST rate at 18%. How much is the input tax credit can he claim?
a. 60
b. 24
a. 60
b. 24
16 January 2018
He can claim ITC of 24.
17 January 2018
Thank you Sir for your valuable answer, but Sir can you kindly discuss how the answer is coming 24.
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