GOODS AND SERVICE TAX For the following consider whether it is a Taxable Supply, Input Taxed or
Fantastic news! We've Found the answer you've been seeking!
Question:
GOODS AND SERVICE TAX
For the following consider whether it is a Taxable Supply, Input Taxed or GST
Free. Calculate net GST payable position.
Receipts
$
660,000 Sales of Motor Vehicles
35,000 Rent received on residential property
5,000 Interest on Deposits
1,100,000 Sale of commercial building
6,600 Employee contribution for provision of car
Payments
$
330,000 Motor Vehicles purchased
10,500 Maintenance cost on the residential apartments
150,000 Salary paid to employees
1,500 Rates
400 Water bill
55,000 Repairs to motor vehicles
Related Book For
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines
Posted Date: