(a) A manufacturer marks an article at 9000. He sells this article to a wholesaler at a
discount of 25% on the marked price and the wholesaler sells it to a retailer at a
discount of 15% on the marked price. Ir the retailer sclls it to a consumer at the
printed price and the sales are intra state, with the rate of GST as 18%, Calculate:
()
The total amount (inclusive of tax) paid by the consumer for the article.
(ii)
The amount of tax (under GST) paid by the wholesaler to the state
government,
(iii)
The amount of tax (under GST) received by the Central Government from
the retailer.
[3]
Answers
Answer:
Let the manufacturing cost is Rs.100. Then the selling cost of the article is 100+18=118 .
The wholesaler purchase the article at Rs.118 and sell it to the retailer at a price of 118+(118×20/100) =118+(118/5)=(590+118)/5=708/5
The retailer purchase it at Rs. 708/5 and sell it to the customer at a price of
(708/5)+(708×25/100)=(708/5)+(177/5)=(708+177)/5=885/5=177
by the given question, 177 ≡30.09
or, 100≡(30.09/177)×100=17
∴, the cost of the manufacturer is Rs. 17
now
Marked Price=Rs.$$10000$$
manufacturer sell the article to wholesaler at a Discount rate$$=40\%$$
Discount$$=40\%\ of\ 10000$$$$=\dfrac{40}{100}\times 10000=Rs.4000$$
Then the price of the article after discount$$=10000-4000=Rs.6000$$
Rate of sales tax$$=12\%$$
$$\therefore $$Tax paid by the wholesaler$$=12\%\ of\ 6000$$
$$\Rightarrow \frac{12}{100}\times 6000=Rs.720$$
The wholesaler sell the article at $$20\%$$ discount on the marked price to the retailer
Then the price of the article after discount$$=10000-2000=Rs.8000$$
Rate of sales tax$$=12\%$$
$$\therefore$$ sales tax paid by the Retailer $$=12\%\ of\ 8000$$$$=\dfrac{12}{100}\times 8000=Rs.960$$
(i)VAT paid by the wholesaler
VAT=tax paid by the retailer-Tax paid by the wholesaler
$$VAT=960-720=Rs.240$$
Retailer sell the article at 10% discount
$$\therefore $$discount price=10% of 10000$$=\frac{10}{100}\times 10000=Rs.1000$$
Then the price of the article after discount$$=10000-1000=Rs.9000$$
Rate of sales tax$$=12\%$$
$$\therefore$$Tax paid by the customer$$=12\%$$ of $$9000$$$$=\frac{12}{100}\times 9000=1080$$
(ii)VAT paid by the retailer
VAT=tax paid by the customer-Tax paid by the retailer
$$VAT=1080-960=Rs.120$$
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