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GST in Trading Chain

Raju is a pro...

Question

Raju is a proprietor of a firm, registered under GST. He has paid GST of ₹9,800 on purchase and collected ₹11,750 on sale. What is the amount of ITC to be claimed (in ₹)? What is the amount of GST payable (in ₹)?

A

11,750 and 1,950

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B

1,950 and 11,750

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C

9,800 and 1,950

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D

1,950 and 9,800

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Solution

The correct option is C 9,800 and 1,950
Tax collected at the time of purchase
= ₹9,800

∴ Amount of ITC to be claimed by Raju
= ₹9,800

Tax collected at the time of sale
= ₹11,750

∴ GST payable
= Tax collected at the time of sale − Tax collected at the time of purchase

= ₹11,750 − ₹9,800
= ₹1,950

Thus, the amount of GST payable by Raju is ₹1,950.

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