Question

8. A shopkeeper buys a machine at a discount of 20% from the wholesaler. The printed price of
the machine is 16000 and the rate of GST is 8%. The shopkeeper sells it to the consumer
at the printed price. Calculate
(i) the price at which the machine is bought by the consumer
(ii) the CGST and the SGST payable by the shopkeeper to the Government assuming that
all the transactions were intrastate.​

Answer 1

Answer:

a.) Rs 13824

b.) Rs 512

Step-by-step explanation:

The price at which the shopkeeper got the machine= 16000-20%of 16000

=16000-3200 =Rs12800

Now the taxable price is Rs 12800

On which 8%incentive will be applied

¡) therefore the price at which the machine is bought by the consumer =

12800+8% of 12800

12800+1024=13824

¡¡) since the gst is equally divided into state and centre therefore, the CGST and SGST payable by the shopkeeper to the Government assuming that all the transactions were intrastate

SGST=CGST

1024÷2=Rs 512

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