A shopkeeper buys an article from a manufacturer for 12000 and marks up it price
25%. The shopkeeper gives a discount of 10% on the marked up price and he give
further off-season discount of 5% on the balance to a customer of T.V. If the sales
intra-state and the rate of GST is 12%, find:
(i) the price inclusive of tax (under GST) which the consumer pays for the T.V.
(ii) the amount of tax (under GST) paid by the shopkeeper to the State
Government.
(iii) the amount of tax (under GST) received by the Central Government.
Answers
Given:- Price of the article which a shopkeeper buys from a manufacturer is Rs.12000.
The shopkeeper gives a discount of 10% on the marked up price and he gives further off-season discount of 5% on the balance to a customer of T.V.
the rate of GST is 12%.
To Find:- (i) the price inclusive of tax (under GST) which the consumer pays for the T.V.
(ii) the amount of tax (under GST) paid by the shopkeeper to the State
Government.
(iii) the amount of tax (under GST) received by the Central Government.
Solution:- The sales of the article is intra-state or within the geographical boundaries of the state.
Therefore, SGST=CGST= 1/2 GST
The shopkeeper pays GST to the state government which is equal to:-
CGST=SGST= 1/2*12% of Rs.12000
=6% of Rs.12000
=Rs.6/100*12000
= Rs.720
[12000*25%=3000, 12000+3000=15000] Since the shopkeeper increased the original price of the article by 25%.
[15000*10%=1500, 15000-1500=13500, 13500*5%=675, 13500-675=Rs.12825] He then gave 10% discount on marked up price and 5% discount.
The price of the article paid by the Customer is Rs.12825.
GST paid by the consumer to the shopkeeper,
CGST=SGST=6% of Rs.12825
=(6/100)×12825=Rs.769.50
The amount of tax (under GST) paid by the shopkeeper to the State Government=Rs.769.50−Rs.720=Rs.49.50.
Answer:- (i) Rs.12825 (ii)Rs.720 (iii)49.50
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