a manufacturer selling a washing machine tour wholesaler at 30000. the wholesaler sells it to the trader at a profit of 10%. the trader sells it to a retailer at a profit of 5000. the retailer sells it at a profit of 6000. GST 18% intra state. find the amount of GST received by the central government and the state government also find the amount paid by the consumer
Answers
Answer:A manufacturer sells a washing machine to wholesaler for rupees 15000 wholesaler sell at a profit of rupees 1200 and trader sells it to a consumer at a profit of rupees 1800
All transaction intra state .
GST = 12 %
To Find : (i) the amount of Tax under GST received by the state government from the wholesaler.
(ii) the amount of Tax under GST received by the central government for the trader.
(iii) the amount that the consumer pays for the machine.
A manufacturer sells a washing machine to wholesaler = Rs 15000
GST 12 %
CGST = SGST = GST/2 = 12/2 = 6 %
CGST = SGST = (6/100) * 150000 = Rs 900
wholesaler sell at a profit of rupees = Rs 1200
Selling amount = Rs 15000 + 1200 = Rs 16200
CGST = SGST = (6/100) * 16200 = Rs 972
amount of Tax under GST received by the state government from the wholesaler. = SGST Received - ITC ( ITC - Input tax credit )
= 972 - 900
= Rs 72
trader sells it to a consumer at a profit of rupees 1800
Selling price = 16200 + 1800 = Rs 18000
CGST = SGST = (6/100) * 18000 = Rs 1080
Amount paid by consumer = 18000 + 1080 + 1080 = 20160 Rs
amount of Tax under GST received by the central government from trader.
= CGST received - ITC
= 1080 - 972
= Rs 108
so the price of washing machine is 20160 rs
Step-by-step explanation:hope it helps
pls mark me as brainliest
Answer:
amount paid 51849
state governments gst -6924.6
central government gst-6924.6