Question

A furniture dealer in jaipur (rajasthan) sold a dining table to a dealer in ajmer (rajasthan) for 80,000 this dining table was then sold to a dealer in bhopal (mp) for 95,000. if the rate of gst is 12% find (1) the net gst payable at ajmer (ii) input tax credit for the dealer in bhopal.

Answer 1

Answer:

Given :

a furniture dealer in jaipur (rajasthan) sold a dining table to a dealer in ajmer (rajasthan) for 80,000 this dining table was then sold to a dealer in bhopal (mp) for 95,000. rate of gst is 12%

To Find :

(1) the net gst payable at ajmer

(ii) input tax credit for the dealer in bhopal.

Solution:

Price  =  80,000

jaipur (rajasthan)  to  ajmer (rajasthan)  with in same state

CGST = SGST = GST/2 = 12/2 = 6 %

CGST = SGST = (6/100) 80000 = 4800 each

dining table was then sold to a dealer in bhopal (mp) for 95,000

interstate

IGST = GST = 12 %

IGST  = (12/100)95000 = 11400  

input tax credit for the dealer in bhopal. = 11400

the net gst payable by  ajmer Dealer = 11400 - 2(4800) =  1800