Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3: Compute GST payable for the month ending 31.3.2020 from the following services provided by Mr. X. i) Amount received for the services rendered in

image text in transcribed

3: Compute GST payable for the month ending 31.3.2020 from the following services provided by Mr. X. i) Amount received for the services rendered in October, 2019(Bills for the same were issued on October 29, 2019) * 1,00,000 ii) services rendered in relation to Supply of farm labour 1,00,000 iii) commission received in relation to sale of rice 2,00,000 iv) Amount received for warehousing of biscuits * 50,000 v) Amount received on account of Training of farmers on use of new fertilizers 50,000 vi) Leasing of vacant land to a poultry farm * 1,00,000 vii) Testing of soil of a farm land * 50,000. The aforesaid amounts are exclusive of tax. Assume of Rate of GST is 18%. 3: Compute GST payable for the month ending 31.3.2020 from the following services provided by Mr. X. i) Amount received for the services rendered in October, 2019(Bills for the same were issued on October 29, 2019) * 1,00,000 ii) services rendered in relation to Supply of farm labour 1,00,000 iii) commission received in relation to sale of rice 2,00,000 iv) Amount received for warehousing of biscuits * 50,000 v) Amount received on account of Training of farmers on use of new fertilizers 50,000 vi) Leasing of vacant land to a poultry farm * 1,00,000 vii) Testing of soil of a farm land * 50,000. The aforesaid amounts are exclusive of tax. Assume of Rate of GST is 18%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For Decision Makers

Authors: DeFond, Mark

3rd Edition

1618534432, 9781618534439

More Books

Students also viewed these Accounting questions

Question

16. What makes them unique? (special features of the group)

Answered: 1 week ago