A registered dealer of Maharashtra purchased goods form registered dealer of Delhi forINR 5,70,000 inclusive of IGST @ 20% and sold the same to registered dealer in Karnatakafor INR 6,80,000 plus IGST @ 20%. How much IGST is payable by dealer in Maharashtra?
Answers
Given : A registered dealer of Maharashtra purchased goods form registered dealer of Delhi for INR 5,70,000 inclusive of IGST @ 20% and sold the same to registered dealer in Karnataka for INR 6,80,000 plus IGST @ 20%.
To Find : How much IGST is payable by dealer in Maharashtra?
Solution:
A registered dealer of Maharashtra purchased goods form registered dealer of Delhi for INR 5,70,000 inclusive of IGST @ 20%
Let say price with out GST = 100x Rs
Then IGST = (20/100)100x = 20 Rs
Then price including IGST = 120x Rs
120x = 5,70,000
=> 20x = 95,000
Hence IGST paid while purchasing = Rs 95000
sold the same to registered dealer in Karnataka for INR 6,80,000 plus IGST @ 20%
IGST received = (20/100) 6,80,000
= 136000 Rs
IGST payable by dealer in Maharashtra = 136000 - 95000
= 41000 Rs
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