Question: Local Stores Pty Ltd operates a retail store and provides you with the following details to prepare their March 2024 Business, Activity Statement. Local Stores

Local Stores Pty Ltd operates a retail store and provides you with the following details to prepare their March 2024 Business, Activity Statement. Local Stores is registered for GST on a quarterly accrual basis. All amounts below are stated as GST inclusive where GST Is applicable and All Goods Pty Ltd holds tax invoices where applicable. All invoices are dated during the period 1 January 2024 to 31 March 2024. $220,000 44,000 5,100 6,300 Receipts from general retail sales Receipt from rental of the resident shop artment above the Interest on Bank Deposits Credit card fees for customers who used credit card Payments 110,000 Purchase general goods Payrents 1 OF 4 QUESTIONS REMAINING 110.000 5,500 65,000 11.000 3,300 1,400 22,000 5,500 Purchase general goods Maintenance cost for the residential apartment Salary paid to employees Purchase of Shelving Rates on the shop building paid to the Council Water expenses paid to Landlord as part of Rent/ Rent paid on the shop Purchase of imported goods from Thailand REQUIRED Discuss the GST implications of each of the above transactions. Advise Local Stores Pty Ltd of the Net GST payable/refundable for the March 2024 Business Activity Statement. Provide justification for your calculations using

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