Taxation - Income TaxMCQQuestion 6076 of 146
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11. Total tax payable in cash (including RCM) by Sandeep is:

Select Your Answer (Keyboard: A, B, C, D)
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Correct Answer

✅ Option A — ₹ 1,38,600

All Options:

  • A₹ 1,38,600 ✓
  • B₹ 1,02,600
  • C₹ 1,23,300
  • D₹ 87,300 (2 Marks) Case Scenario - IV Raj Enterprises, a partnership firm registered under GST is engaged in the sale of both taxable and exempt goods and services in Bhubaneswar, Odisha. On 20-03-2024, it entered into a contract of providing painting services to one of its client for his office. The value of the whole contract was pre-decided for ₹ 2,00,000. The due date to complete contract was estimated to be 20-04-2024. However, due to some dispute with the client, painting service was stopped abruptly on 31-03-2024. Only 60% of work was completed upto 31-03-2024. Raj Enterprises received a new order from Mr. Mathur of Kerala on 25-04-2024 for supply constituting both taxable and exempt goods. He sold goods amounting to ₹ 55,000 out of which goods worth ₹ 10,000 was exempt. The value of exempt goods is separately mentioned in the invoice and both goods are independent to each other. Applicable rate of IGST was 12%. He issued a single invoice in respect of both taxable and exempt supply of goods. The Accountant of the firm advised the firm that the requirement of e-way bill is based on the requirement of consignment value of goods supplied. The firm had received a GST refund of ₹ 50,000, which was sanctioned by the department erroneously and credited to cash ledger of the firm. An interest of ₹ 1,100 was also payable by the firm owing to the late payment of GST for previous tax periods. The firm's output tax liability for the month of April 2024 is ₹ 2,50,000 including output tax liability, if any, on the above-mentioned transactions. The opening balance lying in the electronic credit ledger of the firm was ₹ 2,60,000 and the opening balance of Electronic Cash ledger was ₹ 70,000. All the amounts given above are exclusive of GST wherever applicable. From the information given above, choose the most appropriate answer for the questions 12-14:

Detailed Solution & Explanation

Correct Answer: Option **A** Explanation: As per the official suggested answer, option **A** is correct. Hence, **Option A** is the correct answer.

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