Question

19. A shopkeeper marks an item at €1400 and gives 10% discount but charges 5% GST on
How much tax does a customer have to pay for the item?
The marked price of a scooter is €25,000. If after giving a discount 8%, GST of 28% is levied, find the selling price of the scooter​

Answer 1

Step-by-step explanation:

To find out the how GST affects the price of a product or service, all that one needs to do is input into the tool the original cost of the product or service and the GST rate applicable - 5%, 12%, 18% or 28%. Based on this data, the calculator will show how much one would need to pay as GST for a product or service.

The formula for GST calculation is as under:

GST Amount = (GST x Original cost of the product or service) / 100

Net Price = Original cost of the product or service + GST amount

To remove GST:

GST Amount = Original cost of the product or service - [Original cost of the product or service x {100 / (100 + GST%)}]

Net Price = Original cost of the product or service - GST amount