Question

A dealer purchases an article from the manufacturer for 2.500. He sells the
article to a customer at a profit of 800. If the rate of GST is 12 % and the sale is intra-state,
calculate: (1) the input GST of the dealer, (ii) the output GST of the dealer, (iii) the GST
submitted by the dealer, (iv) the GST submitted by the dealer to the Central Government
and to the State Government, (v) total GST received by the Central Government and the
State Government, (vi) GST paid by the customer, (vii) the amount that the customer pays
for the article​

Answer 1

Answer:

4number

Step-by-step explanation:

the GST submitted by dealer to the central government and to the state government

Answer 2

GST calculation can be explained by simple illustration : If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs. 1,180

What are the types of GST?

Currently, the types of GST in India are CGST, SGST and IGST. This simple division helps distinguish between inter- and intra-state supplies and mitigates indirect taxes. To learn more, read about these 3 different types of GST.

Types of GST in India- CGST, SGST & IGST

How do I calculate GST?

The formula for GST calculation:

Add GST: GST Amount = (Original Cost x GST%)/100. Net Price = Original Cost + GST Amount.

Remove GST: GST Amount = Original Cost – [Original Cost x {100/(100+GST%)}] Net Price = Original Cost – GST Amount.

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