Question

A dealer buys almonds for ` 750 and sells it to consumer at profit of 20 %. If the rate of GST is 12%, find the CGST deposited by him with the Government. Also find the prize paid by the consumer for the almonds.​

Answer 1

Given:

Cost price of Almonds- 750

Profit- 20%

Rate of GST- 12%

                       

To Find:

CGST value - ?

Prize paid by consumer for the almonds - ?

Solutions:

Profit can be calculated on by multiplying profit percent on cost price-

Profit = 750 × 20% = 150

Selling price = 150 + 750 = 900

CGST = $1/2$ × GST

CGST paid by customer or consumer:

Input-CGST = 6% 750 = 45

Input-SGST = 6% 750 = 45

CGST received by dealer:

Output-CGST = 6% 900 = 54

Output-SGST =  6% 900 = 54

Amount of CGST = Output CGST - Input CGST = 54 - 45 = 9

Amount of SGST= 54-45 = 9