Question

A retailer sells a granite block for ₹40000 and the GST charged is 12%. If the retailer pays a GST of ₹960 to the Government, find the price paid by the retailer for the article inclusive of tax.
(Answer : 35,840)
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Answer 1

Answer:

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Answer 2

$\huge\star\sf\underline\pink{Question}$

A retailer sells a granite block for ₹40000 and the GST charged is 12%. the retailer pays a GST of ₹960 to the Government.

$\sf\underline\red{Solution:-}$

$\huge\sf\underline\red{To\:Find:-}$The price paid by the retailer for the article inclusive of tax.

$\huge\sf\underline\red{Step\:by\:Step;}$

$\star\sf\green{A\:retailer\:sells\:a\:granite\:block\:for \: 40000}$

• 12 % GST = (12/100) 40000 = Rs 4800

• GST received by Retailer = Rs 4800

• GST Paid by Retailer = Rs 960

GST Paid = GST received - ITC ( ITC - input tax credit = GST charged by whole seller to retailer )

$\implies\sf{960 = 4800 - ITC} \\ \\ \implies\sf{ ITC = 3840}$

Selling Price by Whole seller before GST = x

$\implies\sf{( 12/100)x = 3840} \\ \\ \implies\sf{ x = 32000}$

Price paid by the retailer for the article inclusive of tax :-

$\implies\sf{ 32000 + 3840} \\ \\ \implies\sf{ 35840\:Rs}$

$\sf\underline\red{Thanks}$