A dealer X at hapur(UP) supplies goods woth rs. 50000 to some other dealer Y in the same city. Now dealer Y supplies the same goods to dealer Z in calcutta at profit of rs. 20000 find:
a) the output and inout taxes for the dealer Y
b) the net gst payable by dealer Y
[ the rate of GST at each stage is 28 oercent]
Answers
Given : A dealer X at hapur(UP) supplies goods woth rs. 50000 to some other dealer Y in the same city. Now dealer Y supplies the same goods to dealer Z in calcutta at profit of rs. 2000 . [ the rate of GST at each stage is 28 oercent]
To find : a) the output and inout taxes for the dealer Y
b) the net gst payable by dealer Y
Solution:
A dealer X at hapur(UP) supplies goods woth rs. 50000 to some other dealer Y in the same city.
GST charged = 28 % = (28/100)50000 = Rs 14000
CGST = SGST = Rs 14000/2 = Rs 7000
dealer Y pays GST = Rs 14000 to dealer X
Y supplies the same goods to dealer Z in calcutta at profit of rs. 20000
Selling price = 50000 + 20000 = Rs 70000
GST charged = 28 % = (28/100)70000 = Rs 19600
IGST = Rs 19600
Output taxes for dealer Y = Rs 19600
Input taxes for dealer Y = Rs 14000
the net GST payable by dealer Y = 19600 - 14000 = Rs 5600
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