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.
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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
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