Taxation - Income TaxQuestion 5609 of 146
All Questions A` 61,600
B` 55,000
C` 45,000
D` 50,400
(2 Marks)
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Correct Answer
✅ Option D — ` 50,400 (2 Marks)
All Options:
- A` 61,600
- B` 55,000
- C` 45,000
- D` 50,400 (2 Marks) ✓
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Detailed Solution & Explanation
Correct Answer: Option **D**
**Explanation:**
1. **Definition of Consignment Value for E-Way Bill:**
Under Explanation 2 to Rule 138(1) of the CGST Rules, 2017, where an invoice is issued in respect of both taxable and exempt supply of goods, the consignment value of goods (for determining the requirement of an e-way bill) shall:
- Include the taxable value of goods determined under Section 15.
- Include the GST (CGST, SGST, UTGST, and IGST) charged on such taxable consignment.
- Exclude the value of the exempt supply of goods.
2. **Calculation of Consignment Value:** - Total invoice value of goods sold to Mr. Mathur = ₹ 55,000. - Value of exempt goods (to be excluded) = ₹ 10,000. - Taxable value of goods = ₹ 55,000 - ₹ 10,000 = ₹ 45,000. - Applicable rate of IGST = . - IGST charged = ₹ 45,000 . - Consignment value = Taxable Value + IGST charged - Consignment value = ₹ 45,000 + ₹ 5,400 = ₹ 50,400. Hence, **Option D** is the correct answer.
2. **Calculation of Consignment Value:** - Total invoice value of goods sold to Mr. Mathur = ₹ 55,000. - Value of exempt goods (to be excluded) = ₹ 10,000. - Taxable value of goods = ₹ 55,000 - ₹ 10,000 = ₹ 45,000. - Applicable rate of IGST = . - IGST charged = ₹ 45,000 . - Consignment value = Taxable Value + IGST charged - Consignment value = ₹ 45,000 + ₹ 5,400 = ₹ 50,400. Hence, **Option D** is the correct answer.
Key Concepts to Understand
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