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Dr. Sharda Varma sells the service to patients and received OPD fees of ₹11,000 and IPD fees of ₹21,000 by cash. The same was deposited in HDFC Bank with GST applicable at 18%. The output CGST is ₹2,880 and output SGST is ₹2,880.

Answer :

In this question, we are working with the financial transactions of Dr. Sharda Varma's medical practice, specifically focusing on the receipt and accounting of outpatient department (OPD) and inpatient department (IPD) fees with applicable Goods and Services Tax (GST).

1. Breakdown of the Transactions:

  • OPD Fees: ₹11,000
  • IPD Fees: ₹21,000
  • Total Fees Collected: ₹11,000 + ₹21,000 = ₹32,000

2. Understanding GST:

  • GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.
  • The GST rate applicable here is 18%, which is split into two parts equally: Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST).

3. Calculation of GST:

  • The total tax paid is 18% of the collected fees.

[tex]\text{GST Amount} = \frac{18}{100} \times 32,000 = 5,760 \\[/tex]

4. Distribution of GST:

  • Output CGST: ₹2,880
  • Output SGST: ₹2,880

These amounts are confirmed as the question mentions output CGST and SGST both being ₹2,880. This is half of the total GST Amount of ₹5,760.

5. Deposit in Bank:

  • The total cash received from patients, amounting to ₹32,000 (inclusive of GST), is deposited in HDFC Bank.

This situation is a typical business transaction that medical practitioners handle, requiring an understanding of GST regulations and proper accounting practices.

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Rewritten by : Barada