Question

A manufacturer sold a steel cupboard for a taxable value of Rs. 12000 to the wholesaler. Wholesaler sold it to the retailer for Rs. 16000 (taxable value). Retailer sold it to a consumer for Rs. 20000 (taxable value). Rate of GST is 18%.
1. find the GST at each stage of trading.​

Answer 1

Answer:

1830,2440,3050

Step-by-step explanation:

please check attach image

Answer 2

Answer:

1. The GST payable by the wholesaler is

₹ 720.

2. The GST payable by the retailer is ₹ 720.

Step-by-step-explanation:

NOTE: Kindly refer to the attachment first.

A wholesaler purchased a steel cupboard for the taxable value of ₹ 12000.

The rate of GST is 18 %.

$\therefore\sf\: The\: GST\: paid\: by\: the\: wholesaler\: =\: 18\%\: of\: 12000\\\\\implies\sf\:\frac{18}{1\cancel{00}}\times\:120\cancel{00}\\\\\implies\sf\:Rs\:2160\:\:\: -\: -\: -\: (1)$

$\therefore\sf\:ITC\:for\:wholesaler\:is\:Rs\:2160.\:\:\:-\:-\:-\:(2)$

The wholesaler sold the steel cupboard to the retailer for taxable amount ₹ 16000.

GST = 18 %.

$\therefore\sf\:Out put\:tax\:=\:18\%\:of\:Rs\:16000\\\\\implies\sf\:Out put\:tax\:=\:\frac{18}{1\cancel{00}}\times\:160\cancel{00}\\\\\implies\sf\:Rs\:2880\:\:\:-\:-\:-\:(3)$

Now, GST payable by the wholesaler = Output tax - ITC

= ₹ ( 2880 - 2160 ) ... [ From ( 2 ) & ( 3 ) ]

= ₹ 720 .... ( 4 )

The retailer sold the steel cupboard to customer for taxable amount ₹ 20000.

GST = 18 %.

$\therefore\sf\:Out put\:tax\:for\:retailer\:=\:18\%\:of\:20000\\\\\implies\sf\:Out put\:tax\:=\:\frac{18}{1\cancel{00}}\times\:200\cancel{00}\\\\\implies\sf\:Rs\:3600\:\:\:-\:-\:-\:(5)$

Now, GST payable by the retailer = Output tax - ITC

= ₹ ( 3600 - 2880 ) ... [ From ( 3 ) & ( 6 ) ]

= ₹ 720

Ans.: 1. The GST payable by the wholesaler is ₹ 720.

2. The GST payable by the retailer is ₹ 720.