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Question 11: From the following information determine the availability of input tax credit of a, RBI approved Bank, for the month of March, 2020- Particular
Question 11: From the following information determine the availability of input tax credit of a, RBI approved Bank, for the month of March, 2020- Particular IGST State GST Cess Central GST 70,000 70,000 12,500 (1) Motor Car (scating capacity 5) purchased to be used by Bank Mangers (11) Computer purchased for office use (it) Concurrent Audit services received (iv) Stationary purchased for office use (v) Tax paid on goods received from branch of other States. 10,000 5.000 10,000 10,000 5.000 10.000 10,000 Total exempted supply for the month is 520,00,000. Total Taxable supply for the month is 260,00,000. The bank has opted to avail 50% of eligible credit uts, 17(4)
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