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Trader buys at Rs 10000 + 5% GST and sells at Rs 11000 + 5% GST in same state. Net GST payable is
ARs 550
BRs 100
CRs 50
DRs 500
Answer & Solution
Correct answer: C. Rs 50
1. GST collected = 5% of 11000 = Rs 550.
2. GST credit on purchase = 5% of 10000 = Rs 500.
3. Net GST = 550 - 500.
4. = Rs 50.
_Source: Selina Concise Mathematics Class 10, Ch on Value Added Tax / GST (Mistral OCR'd PDF), section on input tax credit_
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