A tv manufacturer sold a tv ti a wholesaler for taxable value of ₹10500 the wholesaler sold it to a retailer at ₹12000 taxable price and retailer sold it to a customer at ₹14500 taxable price.The rate of GST is 18% then find CGST and SGST applicable at every transaction
Answers
Given : A tv manufacturer sold a tv to a wholesaler for taxable value of ₹10500 the wholesaler sold it to a retailer at ₹12000 taxable price and retailer sold it to a customer at ₹14500 taxable price. The rate of GST is 18%
To find : CGST and SGST applicable at every transaction
Solution:
GST is 18%
=>CGST = SGST = 18/2 = 9 %
A tv manufacturer sold a tv to a wholesaler for taxable value of ₹10500
CGST = SGST = (9/100)10500 = 945 Rs
CGST = SGST payable by Manufacturer to Govt = Rs 945
wholesaler sold tv to a retailer for taxable value of ₹12000
CGST = SGST = (9/100)12000 = 1080 Rs
CGST = SGST payable by Wholesaler to Govt = 1080 - 945 = Rs 135
Retailer sold tv to a customer for taxable value of ₹14500
CGST = SGST = (9/100)14500 = 1305 Rs
CGST = SGST payable by Retailer to Govt = 1305 - 1080= Rs 225
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