Question

4. Mrs Salim a biscuit manufacturer buys raw goods worth
1,40,000 from different markets within the state
GST @ 5%. He sold packet biscuits worth 2,10,500
in the markets of the neighbouring state. Rate of GST
on packet biscuits is 12%. Find the amount of IGST
payable by him.​

Answer 1

The amount of IGST  payable by him is Rs 18,260.

Step-by-step explanation:

We are given that Mr. Salim a biscuit manufacturer buys raw goods worth  Rs 1,40,000 from different markets within the state  GST @ 5%.

He sold packet biscuits worth 2,10,500  in the markets of the neighboring state. The rate of GST  on packet of biscuits is 12%.

As it is stated that the rate of GST within the state is 5%. So, the amount of GST paid by Mr. Salim within the state is given by;

Amount of GST paid = 5% of Rs 1,40,000

                                  = $\frac{5}{100}\times 1,40,000$

                                  = Rs 7,000

This include the CGST and SGST both.

Now, the GST applied to the sale of packet biscuits to the neighboring state is 12%. This would be the IGST.

So, the amount of tax paid = 12% of Rs 2,10,500

                                            = $\frac{12}{100}\times 2,10,500$

                                            = Rs 25,260

Now, the amount of IGST paid by him = Rs 25,260 - Rs 7,000

                                                                  = Rs 18,260.

Answer 2

Answer:

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(value evaluated based on both SGST & CGST)

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