If a retailer registered for GST has furniture sales totaling $44,000 and in the same tax period had purchases that were all creditable acquisitions of $20,900, what would the net amount of GST be that this retailer owes the ATO?

a. The net amount of GST owing to the ATO would be $3,100

 b. The net amount of GST owing to the ATO would be $2,100

 c. The net amount of GST owing to the ATO would be $2,000

 d.The net amount of GST refundable by the ATO would be $1,100

Answer rating: 100% (QA)

The detailed answer for the above question is provided below To calculate ... View the full answer