Question

A Manufacturer sells a clock for 5000 to a wholesaler. The wholesaler sells it to a retailer and retailer sells it to a customer.G.S.T charged is 18% and profit made each stage is ₹1000. Calculate total G.S.T​

Answer 1

Answer:

i) =Rs\ 5000=Rs 5000

ii) SGST=Rs\ 450SGST=Rs 450

iii) CGST=Rs\ 450CGST=Rs 450

Explanation:

Given:

Marked price of the item, MRP=Rs\ 5000MRP=Rs 5000

cost price of the article for the whole-seller, CP_w=75\%\ of\ MRP=Rs\ 3750CP

w

=75% of MRP=Rs 3750

cost price of the article for the retailer, CP_r=85\%\ of\ MRP=Rs\ 4250CP

r

=85% of MRP=Rs 4250

selling price of the article by the retailer, SP_r=MRP=Rs\ 5000SP

r

=MRP=Rs 5000

GST on the article, GST=18\%GST=18% (included in MRP)

i)

Since the MRP of any article is inclusive of all the taxes therefore the the maximum price that can be paid by a customer is MRP which is inclusive of all the taxes. =Rs\ 5000=Rs 5000

ii)

Since the GST is intra-state therefore half of the GST is shared with the state govt. and the other half with the central govt.

SGST=9\%SGST=9% included in MRP

GST=18\% of\ 5000GST=18%of 5000

GST=Rs\ 900GST=Rs 900

So,

SGST=Rs\ 450SGST=Rs 450

iii)

CGST=9\%\ of\ MRPCGST=9% of MRP

Since the GST is intra-state therefore half of the GST is shared with the state govt. and the other half with the central govt.

CGST=Rs\ 450CGST=Rs 450

Answer 2

Given:

Marked price of the item, MRP=Rs\ 5000

cost price of the article for the whole-seller, CP_w=75\%\ of\ MRP=Rs\ 3750

cost price of the article for the retailer, CP_r=85\%\ of\ MRP=Rs\ 4250

selling price of the article by the retailer, SP_r=MRP=Rs\ 5000

GST on the article, GST=18\% (included in MRP)

i)

Since the MRP of any article is inclusive of all the taxes therefore the the maximum price that can be paid by a customer is MRP which is inclusive of all the taxes. =Rs\ 5000

ii)

Since the GST is intra-state therefore half of the GST is shared with the state govt. and the other half with the central govt.

SGST=9\% included in MRP

GST=18\% of\ 5000

GST=Rs\ 900

So,

SGST=Rs\ 450

iii)

CGST=9\%\ of\ MRP

Since the GST is intra-state therefore half of the GST is shared with the state govt. and the other half with the central govt.

CGST=Rs\ 450

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