A dealer buys spices worth ₹18,000 ane prints an MRP of ₹24,000 on them allowing 10% discount. If the rate of GST is 5% find 1)the amount paid by the buyer and 2)the net GST paid by the dealer to the government if the sale is intrastate.
Answers
Answer:
It is a case of intra-state transaction of goods and services.
SGST = CGST = ½ GST
Given:
Manufacturer sells T.V to a dealer = ₹ 18000
Amount of GST collected by manufacturer from dealer,
CGST – SGST = 6% of 18000
= (6/100) × 18000
= ₹ 1080
So, Manufacturer will pay ₹ 1080 as CGST and ₹ 1080 as SGST
CP of a TV for dealer = ₹ 18000
Profit = ₹ 1500
SP of a TV for dealer to customer – CP + Profit = ₹ 18000 + ₹ 1500
= ₹ 19500
Amount of GST collected by dealer from customer,
CGST = SGST = 6% of ₹ 19500
= (6/100) × 19500
= ₹ 1170
(i) Amount of GST paid by the dealer to the State Government.
₹ 1170 - ₹ 1080 = ₹ 90
(ii) Amount of GST received by the Central Government.
CGST paid by manufacturer + CGST paid by dealer = ₹ 1080 + ₹ 90
= ₹ 1170
(iii) Amount of GST received by the State Government.
SGST paid by manufacturer + SGST paid by dealer = ₹ 1080 + ₹ 90
(iv) Amount that the consumer pays for the TV.
CP of TV + CGST paid by customer + SGST paid by customer
= ₹19500 + ₹1170 + ₹ 1170 = ₹ 21840