5. A sewing machine manufacturing purchases
raw materials worth 5,40,000 for his
manufacturing unit from outside the state. The
rate of IGST is @ 12%. He produced two types
of sewing machine, 50 type A whose base price is
5000, GST @ 12% and 100 type B whose base price
is 10,000, GST @ 18%. He had two clients outside
the state and received orders for 10 type A and 20 type
B only by client X, 10 each by client Y. Find
(i) input GST,
(ii) Output GST
(iii) GST payable/credit
Answer: (i). ₹64800
(ii). ₹66000
(iii). GST payable - ₹1200
Answers
A sewing machine manufacturing purchases
raw materials worth 5,40,000 for his
manufacturing unit from outside the state. The
rate of IGST is @ 12%. He produced two types
of sewing machine, 50 type A whose base price is
5000, GST @ 12% and 100 type B whose base price
is 10,000, GST @ 18%. He had two clients outside
the state and received orders for 10 type A and 20 type
B only by client X, 10 each by client Y. Find
(i) input GST,
(ii) Output GST
(iii) GST payable/credit
ANSWER
Input GST will be equal to the percentage IGST on material= (12*5,40,000)/100
=12*5400
=Rs 64800
Output GST will be equal to the percentage of goods sold
total type A machine sold=10+10
=20
OGST on type A machine=(12*20*5000)/100
=12000
total type B machine sold= 20+10
=30
OGST on type B machine=(18*30*10000)/100
=54000
Total OGST = OGST on type A + OGST on type B
=12000+54000
=Rs 66000
GST payable= OGST-IGST
=66000-64800
=Rs 1200
Answer:
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