tax is GST paid on goods and services made to the taxable trader or GST paid on the importation of goods by the trader and is claimable from the Comptroller of Goods and Services Tax (GST)

Accounting Jan 18, 2021

tax is GST paid on goods and services made to the taxable trader or GST paid on the importation of goods by the trader and is claimable from the Comptroller of Goods and Services Tax (GST).

a. supply

b. output

c. demand

d. input

Expert Solution

Answer - The answer is option (d) Input.

The reason is - Input tax is that tax or is that GST paid on goods and services by a taxable trader.

Input Tax is provided as credit to the trader, when he/she submits his collection of GST collection. Therefore, the answer is input tax.

Other options (a), (b) and (c) are just given to confuse and are not relevant to the question aksed.

Kindly comment in case of any concerns/doubts. Happy to help.

Thank You.

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