A sold an article to B at ₹ 800. B in turn sells the article to C at a profit of ₹200. Calculate INPUT TAX and OUTPUT TAX for dealer B, and GST deposited by dealer B with the government authorities, if the rate of GST is 18%.
Answers
Given : A sold an article to B at ₹ 800. B in turn sells the article to C at a profit of ₹200. rate of GST is 18%.
To Find : INPUT TAX and OUTPUT TAX for dealer B, and GST deposited by dealer B with the government authorities,
Solution:
Assuming all transaction with in same state
A sold an article to B at ₹ 800.
GST is 18%.
CGST = SGST = 18/2 = 9 %
CGST = SGST = (9/100)800 = Rs 72 Each
B in turn sells the article to C at a profit of ₹200.
=> Selling Price = 800 + 200 = Rs 1000
CGST = SGST = (9/100)1000 = Rs 90 Each
INPUT TAX for Dealer B
CGST = SGST = 72 => total GST = 72 + 72 = 144 Rs
OUTPT TAX for Dealer B
CGST = SGST =90 => total GST = 90 + 90 = 180 Rs
GST deposited by dealer B with the government authorities, = 180 - 144 = Rs 36
Rs 18 to State government
Rs 18 to central government
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