Q.2

ABC Co., a partnership firm ,is in the business of manufacture of readymade garments in Maharashtra. It submits the following information pertaining to March 2020: 1) Input Tax Credit balance in Electronic Credit Ledger as on March 1,2020 a) IGST Rs.2,00,000 b) CGST-Rs.95,000 c) SGST-Rs.93,500 2) Purchases ( i.e. Inward supply or goods/services for March 2020) a) Supply of raw material received from X Ltd. Delhi ( Taxable value of supply-Rs.50,000+GST @ 12%)-56,000 b) Supply of raw material received from Y Ltd. Mumbai ( Taxable value of supply-Rs.1,00,000+GST @ 5%)-5,000 c) Rent of Mumbai office paid to Z Ltd. Bangalore ( Taxable value of supply-Rs.30,000+GST @ 18%)-35,400 d) Rent of Mumbai factory paid to P Ltd. Nagpur ( Taxable value of supplyRs.90,000+GST @ 18%)-1,06,100 e) Packing material received from Q Ltd. Chennai ( Taxable value of supplyRs.10,000+GST @ 18%)-11,800 f) Consultancy fee paid to a local Chartered Accountant ( Taxable value of supply-Rs.5,000+GST @ 18%)-5,900 3) Sales (i.e. Outward supply or goods/services for March 2020) g) 1000 units supplied to R Ltd., New Delhi ( Taxable value of supplyRs.5,00,000+GST @ 18%)-5,90,000 h) 6000 units supplied to S Ltd., Mumbai ( Taxable value of supply before 10% discount-Rs.35,00,000+GST @ 18%)37,17,000 Compute the amount of GST payable through Electronic Cash Ledger for March 2020, giving the break up of CGST,SGST/UTGST and IGST. Assume that all the conditions for availing Input Tax Credit are satisfied. However, 50% consultancy fee is utilized for personal benefits of A, one of the partners of the firm.