A shopkeeper in Kolkata buys an article for 80,000 from a dealer in Gujrat. If the rate of GST IS 28%, find the tax to be paid on the deal .
Answers
Answer:
List price of an article =Rs.8000
Let the rate of discount given by wholesaler =x%
Step 2:
We need to find the rate of discount at which article was bought from the wholesaler
Step 3:
So,
discount =x% of Rs.8000
=
100
x
×Rs.8000
= Rs.80x
CP of an article for shopkeeper =Rs.8000−Rs.80x
It is given that , CP of article for consumer =Rs.8000
Since the sales are intra-state, rate of GST =18%
CGST=SGST=9%
Amount of GST paid by the shopkeeper to wholesaler
SGST=CGST =9% of (Rs.8000−Rs.80x)
=
100
9
×(Rs.8000−Rs.80x)
Amount of GST paid by the consumer to the shopkeeper
CGST=SGST =9% of Rs.8000
=
100
9
×Rs.8000=Rs.720
So, the tax paid by shopkeeper to state government
=Rs.720−
100
9
×(Rs.8000−Rs.80x)
Also, tax paid by the shopkeeper to state government =Rs.72
⇒72−720−
100
(9×80)
(100−x)
⇒720−72=
100
720
×(100−x)
⇒648=
10
72
(100−x)
⇒100−x=
72
(648×10)
⇒100−x=90
⇒x=100−90
⇒x=10
Hence, the required rate of discount =10%
Answer :
The shopkeeper will pay 22,400 Rs IGST as a Tax.
Step-by-step Explanation :
Given : Cost of the article = 80,000
GST = 28%
To find : The tax to be paid on the deal = ?
It is the case of Inter-state aTransaction errttasofofo
IGST = 28% of 80,000
IGST = 28 × 80,000/100
= 28 × 800
IGST = 22,400
Hence the shopkeeper will pay 22,400 Rs IGST as a Tax.