'Chetana Store' paid total GST of ₹ 1,00,500 at the time of purchase and collected GST ₹ 1,22,500 at the time of sale during 1st of July 2017 to 31st July 2017. Find the GST payable by Chetana Stores.

Doubtly Asked 24 Oct 2026 Save WhatsApp Report

1 answer

Answer: GST payable = ₹ 22,000

GST paid on purchase is the input tax (ITC); GST collected on sale is the output tax.

GST payable = output tax − ITC

\[ = 1{,}22{,}500 - 1{,}00{,}500 = ₹\,22{,}000 \]

(This is paid as CGST ₹ 11,000 and SGST ₹ 11,000.)

Doubtly AI · 24 Oct 2026 AI-verified · Oct 2026 Report

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