Math, asked by aviralsngh60, 9 months ago

6. A manufacturer in Jharkhand sells an iron product to a wholesaler in Rajasthan liste
5,000. If the rate of GST is 18%, calculate cost price of the product for the wholes
Who will get the GST, Jharkhand or Rajasthan or Central government of India?​

Answers

Answered by amitnrw
6

Given  : A manufacturer in Jharkhand sells an iron product to a wholesaler in Rajasthan . List Price = Rs 5000  GST = 18 %

To find : cost price of the product for the whole

Who will get the GST,

Solution:

GST - Goods & Service Tax

Transaction intra state ( with in same state )

CGST = SGST = GST/2

CGST - Central government GST

SGST = State government  GST

Transaction inter state ( between different state )

IGST = GST

Jharkhand  to Rajasthan - interstate transaction

IGST = (18/100) 5000  = Rs 900

Amount including GST = 5000 + 900 = Rs 5900

IGST  amount is received by central government

and then later distributed between central & state governments

cost price of the product for the whole = Rs 5900

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