Question

A television set was sold by a wholesaler from Amritsar to a dealer in Ranchi for 9600. The dealer
in Ranchi sold it to an end user in Kolkata at a profit of 1400. If the rate of GST is 5%, calculate
(i)
the net IGST, CGST and SGST payable by the dealer in Ranchi.
(ii)
the cost price of the television set for the end user.

please give full step by step answer. ​

Answer 1

Net IGST Payble by Dealer in Ranchi =  Rs  70   & cost price of the television set for the end user = 11550 Rs

Step-by-step explanation:

A television set was sold by a wholesaler from Amritsar to a dealer in Ranchi for 9600

Amritsar & Ranchi are in different state so IGST (integrated GST) will be applicable

5 %  IGST  Paid = (5/100)9600 = 480 Rs

Sold at Profit of Rs 1400  from Ranch to kolkatta  , different states so IGST is applicable

9600 + 1400 = 11000

5 % IGST Received = (5/100) * 11000 = 550 Rs

Net IGST Payble by Dealer in Ranchi = 550 - 480 = 70 Rs

CGST & SGST = 0   ( as transactions are interstate)

Cost Price of the television set  for End user = 11000 + 550 = 11550 Rs

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