a seller sells a washing machine at C.P. of 15000 with profit of 20% then what is his profit?
Answers
Answer:
It is a case of intra-state transaction of goods and services
GSCT= CGST=
2
1
GST
Given:
CP of washing machine for wholesaler=Rs.15000
Rate of GST =12%
Amount of GST paid by wholesaler to manufacturer
CGST=GST=6% of Rs.15000
=(6/100)×15000=Rs.900
SP of washing machine by wholesaler to trader= CP + Profit
=Rs.15000+Rs.1200=Rs.16200
Amount of GST paid by trader to wholesaler
CGST = SGST=6% of Rs.16200
=(6/100)×16200=Rs.972
The amount othat the consumer pays for the machine
CP of washing machine for consumer + CGST paid by consumer + SGST paid by consumer =Rs.15000+Rs.1080=Rs.17160
Answer:
Step-by-step explanation
It is a case of intra-state transaction of goods and services
GSCT= CGST=
2
1
GST
Given:
CP of washing machine for wholesaler=Rs.15000
Rate of GST =12%
Amount of GST paid by wholesaler to manufacturer
CGST=GST=6% of Rs.15000
=(6/100)×15000=Rs.900
SP of washing machine by wholesaler to trader= CP + Profit
=Rs.15000+Rs.1200=Rs.16200
Amount of GST paid by trader to wholesaler
CGST = SGST=6% of Rs.16200
=(6/100)×16200=Rs.972
The amount of tax (under GST) received by the State Government from the wholesaler
Rs.972−Rs.900=Rs.72