Question

A trader sold electric fans costing rupees 56,000 ( with gst ). find the amount of 1cgst 2sgst and the taxable value of electric fans, if the rate of gst is 12 percent

Answer 1

Selling Price along with GST = 56000

Rate of GST= 12%

we know that

Taxable value + GST =56000

Let taxable value be x..

x + 12% of x = 56000

x + 0.12x =56000

1.12x = 56000

x = 56000/1.12

x = 50000

GST = Selling Price (inclusive of GST) - Taxable value

= 56000 - 50000

=6000

If GST rate = 12%

SGST = CGST = 6%


so ..

SGST = 6/12 = 1/2 ; 6000×1/2 = 3000

CGST = 6/12 = 1/2 ; 6000×1/2 = 3000

Answer 2

Answer:

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