Question

A shopkeeper in Kerala buys an article at the printed price of 25000 from a wholesaler in Andhra Pradesh.The shopkeeper sells the article to a consumer in Kerala at profit of 10% on the cost price.If the rate of GST is 12%,find:1-the amount of tax paid (under GST) received by the State govt of Kerala2-the amount of tax (under GST) received by the Central Government?

Answer 1

Answer:

it is a case of inter state gay so

igst =12%of25000

=3000

Answer 2

Answer:

Step-by-step explanation:

C.P. for wholesaler=Rs.25000

S.P. for wholesaler/C.P. for customer=Rs.27500

So,IGST=25000*12/100

             =Rs.3000

IGST=ITC(also)=Rs.3000

Now,

Output tax=> CSGT=27500*6/100

                                 =Rs.1650

                      SGST=Rs.1650

Total output tax=CGST+SGST

                          =Rs.1650+1650

                           =Rs.3300

(iii)So,total Tax paid by wholesaler=output tax-ITC

                                                                   =Rs.3300-3000

                                                                   =Rs300

Now,Rs.300 is total GST to be paid to both the governments

So,     CGST=Rs.300/2(taxes are divided equally like GST%)

                  =Rs.150

        so,SGST=Rs.150