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(Querist)
15 January 2018 A manufacturer paid input tax of Rs.64 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. 64
b. 28
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RAJA P M

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RAJA P M (Expert)
15 January 2018 He will claim 40%....
He will be "SHOW" the ITC 100% and "REVERSE" the ITC 60%
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Surajit Sarkar

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Surajit Sarkar (Querist)
15 January 2018 I don't understand your answer. kindly explain and answer a or b
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RAJA P M

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RAJA P M (Expert)
15 January 2018 How to you define 64 and 28...?
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Surajit Sarkar

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Surajit Sarkar (Querist)
15 January 2018 IT IS QUESTION. ANSWER IS OPTION A OR B. WHICH OPTION IS CORRECT? THIS QUESTION IS NSDC QUESTION PAPER.
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RAJA P M

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RAJA P M (Expert)
15 January 2018 Oh.... As per question the ans is 64....
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Surajit Sarkar

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Surajit Sarkar (Querist)
16 January 2018 But another experts answered it is 24. So i am confused. kindly discuss your view.
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Surajit Sarkar

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Surajit Sarkar (Querist)
20 January 2018 Raja Babu kindly answer.
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