Mathematics · Aptitude - Taxation Calculation
A manufacturing unit in Maharashtra purchases raw materials worth 5,00,000 Rupees from a supplier in Gujarat with a GST rate of 18%. The unit pays 40,000 Rupees for freight to a Goods Transport Agency (GTA) on which 5% GST is applicable under reverse charge (RCM). The unit then sells finished goods to a dealer in Maharashtra for 8,00,000 Rupees plus 12% GST. What is the net GST liability to be paid in cash after utilizing the maximum possible Input Tax Credit (ITC)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 14,000 Rupees
- 28,000 Rupees✓
- 36,000 Rupees
- 42,000 Rupees
Correct answer
8,000 Rupees
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