Chapter 07 Solved Past Papers Sales Tax Numericals of CA Mod- C
(xi)All the above figures are exclusive of sales tax, wherever applicable. Sales tax is payable at the rate of 17%.
Required
Note: show all relevant exemptions, exclusions and disallowances.
UndertheprovisionsoftheSalesTaxAct, 1990 andRulesmadethereunder,computetheamountofsalestaxpayable
by/refundable to MA and the amount of sales tax to be carried forward, if any, for the tax period February 2023.SalestaxcreditbroughtforwardfromJanuary 2023 amountedtoRs.245,000.Thisamountwasinclusiveofinputtaxof
Rs.120,000paidonachemicalwhichcouldnotbeusedbeforetheexpirydateandwasconsequentlydestroyedin
February 2023.Conceptual Approach to TaxesConceptual Approach to Taxes 953953