89. A shopkeeper sold a bicycle to a customer for Rs. 10304 including GST. The rate of GST was
129. Find SGST payable to him.
Answers
Answer:
SGST is Rs 64.5
Step-by-step explanation:
The calculation of a product's GST is made by adding the State GST & Central GST.
Therefore, SGST + CGST = GST
And, as per the rules and regulations of the GST law,
SGST = CGST
So, the equation would be,
CGST + CGST = GST
=> 2CGST = 129
=> CGST = 129÷2 = 64.5
Therefore, CGST = SGST = Rs 64.5
SGST Payable by Shopkeeper = Rs 552 if shopkeeper sold a bicycle to a customer for Rs. 10304 including GST at 12%
Step-by-step explanation:
Let say Bicylcel price = B Rs before GST
GST rate = 12 %
GST = (12/100)B = 0.12B Rs
Selling Price including GST = B + 0.12B = 1.12B
1.12B = 10304
=> B = 9200 Rs
GST = 10304 - 9200 = 1104 Rs
GST = SGST + CGST
SGST = GST/2
=> SGST = 1104/2
=> SGST = 552
SGST Payable by Shopkeeper = Rs 552 Without availing Input Tax Credit
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