Question

A trader of West Bengal sold an electronic product worth Rs.2800 to a dealer in Punjab at a profit of 20%, GST charged at a rate of 5%. How much GST does central government receives?​

Answer 1

Step-by-step explanation:

It is a case of intra-state transaction of goods and services

GSCT= CGST=

2

1

GST

Given:

CP of washing machine for wholesaler=Rs.15000

Rate of GST =12%

Amount of GST paid by wholesaler to manufacturer

CGST=GST=6% of Rs.15000

=(6/100)×15000=Rs.900

SP of washing machine by wholesaler to trader= CP + Profit

=Rs.15000+Rs.1200=Rs.16200

Amount of GST paid by trader to wholesaler

CGST = SGST=6% of Rs.16200

=(6/100)×16200=Rs.972

The amount of tax (under GST) received by the State Government from the wholesaler

Rs.972−Rs.900=Rs.72

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Answer 2

Answer:

Step-by-step explanation:

SP = 2800

CP = 2800 - 20/100 x 2800

CP = 2800 - 560

CP = 2240

GST on SP = 5 x 2800/100

                  = 140

GST on CP = 5 x 2240/100

                   = 112

CGST = GST/2

          = 152/2

          = 76