A jewellery manufacturer in Kharagpur (West Bengal) sold a bracelet to a dealer in Kolkata (West
Bengal) for 80000. This bracelet was then sold to a dealer in Mumbai (Maharashtra) for 95000. If
the GST rate for jewellery is 3%, calculate
(i) the net GST payable at Kolkata (ii) Input tax credit for the dealer in Mumbai
Please give full step by step explanation
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Answer:
net gst payable at Kolkata = 4800
input tax credit in Mumbai = 2850
Step-by-step explanation:
sales = 80000
cgst = 2400
sgst = 2400
Total gst payable at Kolkata = 4800
sales = 95000
Igst (since it is intra state transaction) = 2850.
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