A shopkeeper buys a camera at a discount of 20% from a wholesaler the printed price of the camera being rupees 1600. The shopkeeper sells it to a consumer at the printed price. If the sales are intra state and the rate of GST is 12% find:
(i) GST paid by the shopkeeper to the Central government
(ii) GST received by the Central government
(iii) GST received by the State government
(iv) The amount at which the consumer bought the camera.
Pls answer all the above four questions.
Answers
Answer:
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☺✌◦•●◉✿ ᴍᴀᴛʜs
ᴀ sʜᴏᴘᴋᴇᴇᴘᴇʀ ʙᴜʏs ᴀ ᴄᴀᴍᴇʀᴀ ᴀᴛ ᴀ ᴅɪsᴄᴏᴜɴᴛ ᴏғ 20% ғʀᴏᴍ ᴛʜᴇ ᴡʜᴏʟᴇsᴀʟᴇʀ, ᴛʜᴇ ᴘʀɪɴᴛᴇᴅ ᴘʀɪᴄᴇ ᴏғ ᴛʜᴇ ᴄᴀᴍᴇʀᴀ ʙᴇɪɴɢ ʀs. 1,600 ᴀɴᴅ ᴛʜᴇ ʀᴀᴛᴇ ᴏғ sᴀʟᴇs ᴛᴀx ɪs 6%. ᴛʜᴇ sʜᴏᴘᴋᴇᴇᴘᴇʀ sᴇʟʟs ɪᴛ ᴛᴏ ᴛʜᴇ ʙᴜʏᴇʀ ᴀᴛ ᴛʜᴇ ᴘʀɪɴᴛᴇᴅ ᴘʀɪᴄᴇ ᴀɴᴅ ᴄʜᴀʀɢᴇs ᴛᴀx ᴀᴛ ᴛʜᴇ sᴀᴍᴇ ʀᴀᴛᴇ. ғɪɴᴅ:
(ɪ) ᴛʜᴇ ᴘʀɪᴄᴇ ᴀᴛ ᴡʜɪᴄʜ ᴛʜᴇ ᴄᴀᴍᴇʀᴀ ᴄᴀɴ ʙᴇ ʙᴏᴜɢʜᴛ ғʀᴏᴍ ᴛʜᴇ sʜᴏᴘᴋᴇᴇᴘᴇʀ
(ɪɪ) ᴛʜᴇ ᴠᴀᴛ (ᴠᴀʟᴜᴇ ᴀᴅᴅᴇᴅ ᴛᴀx) ᴘᴀɪᴅ ʙʏ ᴛʜᴇ sʜᴏᴘᴋᴇᴇᴘᴇʀ.
ᴀ .
(ɪ) ʀs. 1,852 (ɪɪ) ʀs. 17.20
ʙ .
(ɪ) ʀs. 1,722 (ɪɪ) ʀs. 18.20
ᴄ .
(ɪ) ʀs. 1,696 (ɪɪ) ʀs. 19.20
ᴅ .
ɴᴏɴᴇ ᴏғ ᴛʜᴇsᴇ
ᴅᴇᴄᴇᴍʙᴇʀ 26, 2019sᴜᴅᴇᴇᴘ ᴊᴀsɪᴍ
sʜᴀʀᴇ
ᴀɴsᴡᴇʀ
ᴘʀɪɴᴛᴇᴅ ᴘʀɪᴄᴇ=ʀs.1600
ᴅɪsᴄᴏᴜɴᴛ=20%
ᴅɪsᴄᴏᴜɴᴛ ᴘʀɪᴄᴇ=20% ᴏғ 1600=10020×1600=ʀs.320
ᴘʀɪᴄᴇ ᴏғ ᴄᴀᴍᴇʀᴀ ᴀғᴛᴇʀ ᴅɪsᴄᴏᴜɴᴛ=1600−320=ʀs.1280
ʀᴀᴛᴇ ᴏғ sᴀʟᴇs ᴛᴀx=6%
∴ᴛᴀx ᴘᴀɪᴅ ʙʏ ᴛʜᴇ sʜᴏᴘᴋᴇᴇᴘᴇʀ=1006×1280=ʀs.76.80
sʜᴏᴘᴋᴇᴇᴘᴇʀ sᴇʟʟ ɪᴛ ᴀᴛ ᴘʀɪɴᴛᴇᴅ ᴘʀɪᴄᴇ ᴛᴏ ᴛʜᴇ ʙᴜʏᴇʀ=ʀs.1600
ᴛᴀx ᴘᴀɪᴅ ʙʏ ᴛʜᴇ ʙᴜʏᴇʀ=1006×1600=ʀs.96
(ɪ)ᴛʜᴇ ᴘʀɪᴄᴇ ᴀᴛ ᴡʜɪᴄʜ ᴛʜᴇ ᴄᴀᴍᴇʀᴀ ᴄᴀɴ ʙᴇ ʙᴏᴜɢʜᴛ ғʀᴏᴍ ᴛʜᴇ sʜᴏᴘᴋᴇᴇᴘᴇʀ=1600+96=ʀs.1696
(ɪɪ)ᴠᴀᴛ=ᴛᴀx ᴘᴀɪᴅ ʙʏ ᴛʜᴇ ʙᴜʏᴇʀ-ᴛᴀx ᴘᴀɪᴅ ʙʏ ᴛʜᴇ sʜᴏᴘᴋᴇᴇᴘᴇʀ
ᴠᴀᴛ=96−76.80=ʀs.19.20