A shopkeeper bought a washing machine at a discount of 20% from a wholesaler, the printed price of the washing machine is Rs 18000. The shopkeeper sells it to consumer at a discount of 10% on the printed price. If the sales are intra- state and the rate of GST is 12%. Find i. The price inclusive GST at which the shopkeeper bought the machine ii. The price which the consumer pays for the machine The GST paid by wholesaler to state govt. The GST paid by shopkeeper to state govt. The GST received by the central Govt
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Step-by-step explanation:
Given: Printed price of washing machine = Rs. 18,000, Rate of discount =20%.
Amount of discount to shopkeeper =
100
20
×18,000
= Rs. 3,600
Shopkeeper's price = Rs. 18,000− Rs. 3,600
= Rs. 14,400
Sales Tax paid by shopkeeper =
100
8
×14,400= Rs. 1,152.
Discount for consumer =
100
10
×18,000= Rs. 1,800
Price for consumer = Rs. 18,000− Rs. 1,800= Rs. 16,200
Tax charged by the shopkeeper =
100
8
×16,200= Rs. 1,296.
Since, Tax paid by the shopkeeper = Rs. 1,152
∴ VAT paid by the shopkeeper = Tax charged − Tax paid
= Rs. 1,296− Rs. 1,152
= Rs. 144
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