Question

A manufacture sells a TV set to a distributor for Rs 51,200 including tax. The distributor sells it to a retailer for Rs 43,000 excluding tax and the retailer sells it to a customer for Rs 45,000 plus tax. If the rate of GST is 28%, find the ( CP of the TV set for the distributor (ii) GST paid by the distributor to the Government. (iii) Total GST received by the Government on the sale of the TV. (iv) Price paid by the customer

Answer 1

Answer:

(i)The cost price of TV for distributor is Rs 51,200

(ii) The GST paid by distributor to Government is Rs 11,200

(iii)  Total GST received by Government is Rs 23,800

(iv) The price paid by customer is RS 57600    

Step-by-step explanation:

Given as :

The cost price of TV for distributor = rs 51,200 with tax

The cost price of TV for retailer = Rs 43,00   without tax

The cost price of TV for customer = Rs 45,000 with tax

The GST tax rate = 28%

(i) The cost price of TV for distributor = Rs 51,200 with tax

(ii) The GST paid by distributor to Government = Rs x

Or, ∵ cost price of TV for distributor = rs 51,200 with tax

And GST = 28%

Or, x + 28% of x = Rs 51200

Or, x ( $\dfrac{100+28}{100}$ ) = Rs 51200

Or, x = Rs $\dfrac{51200}{1.28}$

∴    x = Rs 40,000

So, The GST tax paid = Rs 51,200 - Rs 40,000

Or, The GST tax paid = Rs 11,200

Hence, The GST paid by distributor to Government is Rs 11,200

(iii) Total GST received by Government = Rs y

i.e y = GST paid by distributor to Government + GST paid by customer to Government

or,  GST paid by customer to Government = 28% of Rs 45000 = Rs 12,600

∴  y = Rs 11,200 + Rs 12,600

Hence Total GST received by Government is Rs 23,800

(iv) The price paid by customer = cost price of TV for customer

i.e The price paid by customer = Rs 45000 + tax

Or, The price paid by customer = Rs 45000+ Rs 12,600

Hence, The price paid by customer is RS 57600    Answer