Question

A wholesale dealer purchased spare parts of scooter their taxable price was Rs 2 50 000 he sold the whole lot to a retailer at a taxable price of RS 2 80 000 After selling the lot the retailer got a taxable amount of RS 3 50 000 if the rate of GST is 28 % how much GST did the wholesaler pay ? How GST did he charge for the retailer ? how much of it did he pay to the Government

Answer 1

THANKS FOR THE QUESTION !

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GIVEN :

=> WHOLESALER PURCHASED SPARE PARTS :

=> TAXABLE VALUE :

=> 2,50,000 RS

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GST :

=> 28%

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SO,

=> INPUT TAX FOR THE RETAILER :

=> 28% OF TAXABLE VALUE :

=> 28 / 100 * 2,50,000 RS

=> 70,000 RS

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HE SOLD IT TO RETAILER :

=> TAXABLE VALUE :

=> 2,80,000 RS

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GST :

=> 28%

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OUTPUT TAX FOR THE WHOLESALER :

=> 28% OF SELLING TAXABLE VALUE

=> 28 / 100 * 2,80,000 RS

=> 78,400 RS

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INPUT TAX CREDIT :

=> INPUT TAX :

=> 70,000 RS

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GST PAYABLE :

=> OUTPUT TAX - INPUT TAX CREDIT

=> 78,400 RS - 70,000 RS .

=> 8,400 RS

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HOPE IT WILL HELP U......

THANKS AGAIN.......

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Answer 2

Answer:

Hole scale purchased sqare parts. taxable value =250000 rs

GST =28%    

then input tax for retailer at taxable 28% /100  *250000     

=70000rs

they shold the retailer at taxable value 280000rs   then GST are 28%      

then output tax for wholesaler  28/100 *280000  =75400rs

GST   output tax  -input tax 78400-70000 =8400rs  

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