Question

A company provided Z-security services for the taxable value of ₹ 64,500 . Rate of GST is $18\%$. Company had paid GST of ₹ 1550 for laundry services and uniforms etc. What is the amount of ITC (input Tax Credit)? Find the amount of CGST and SGST payable by the company.

Answer 1

Output tax $=18\%$ of 64500 $=\frac{18}{100}\times 64500$ $=₹11610$ Input tax $=₹1550$ GST payable $=$ Output tax $-$ ITC $=11610-1550$ $\begin{array}{cc}\therefore \text{GST payable}& =₹10060\\ \text{SGST}=\text{CGST}& =\frac{\text{GST payable}}{2}\\ & =\frac{10060}{2}\\ & =₹5030\end{array}$
$\therefore$ Amount of ITC is $₹1550$. Amount of CGST and SGST payable by the company is $₹5030$ each.