Time! 3 Bhoora Ltd., a registered supplier in Surat, Gujarat sold goods to Kaala Ltd. of Delhi on 6th April for 5,00,000 (excluding GST) with a condition that if Kaala Ltd. failed to make payment with

Question

Chandan · Answer

It is 500000*2=10000

Chandan · Answer

Answer (C) the good sold on 6th april and if you count 30 days from 6th April then it will be 5 th May and in this case kaala Ltd. Paid consideration on 20th May.He is late by 15 days from due date(5th may) for making payment.So the interest will be calculated as -- 500000*20%=10000. 10000*15/30=5000 as GST is included in the interest we have to exclude it from interest. It will be calculated as 5000*100/118= 4237. The value of supply will be 500000+4237= 504237

Time! 3 Bhoora Ltd., a registered supplier in Surat, Gujarat sold goods to Kaala Ltd. of Delhi on 6th April for 5,00,000 (excluding GST) with a condition that if Kaala Ltd. failed to make payment with

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