Question

a shopkeeper buys 10 bottles of medicine for rupees 5600 and pays tax at the prescribed rate of 5% he sells 6 bottles at rupees 650 per bottle and changes GST from the buyer at the prescribed rate.
(a) find the input tax and output tax for the shopkeeper against the sale of 6 bottles
(b) find the GST payable by the shopkeeper​

Answer 1

Answer:

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Answer 2

Given :  a shopkeeper buys 10 bottles of medicine for rupees 5600 and pays tax at the prescribed rate of 5%

he sells 6 bottles at rupees 650 per bottle and charges GST from the buyer at the prescribed rate.

To Find :  

(a) find the input tax and output tax for the shopkeeper against the sale of 6 bottles

(b) find the GST payable by the shopkeeper​

Solution:

buys 10 bottles of medicine for rupees 5600

=> 1 Bottle charges  = 5600/10  = Rs 560

6 bottle charges  = 6 * 560 = 3360 Rs

GST = (5/100) 3360  =  168  Rs

1 Bottle sold at  Rs 650

6 Bottles solld = 6 * 650  = 3900  Rs

GST Charged  = (5/100) * 3900  = 195  Rs

Input Tax  = 168 Rs

Output Tax = 195 Rs

GST Payable by shopkeeper = 195 - 168  = Rs 27

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