A wholesaler purchased electric goods for the taxable amount of ` 1,50,000. He sold it to the retailer for the taxable amount of ` 1,80,000. Retailer sold it to the customer for the taxable amount of ` 2,20,000. Rate of GST is 18%. Show the computation of GST in tax invoices of sales. Also find the payable CGST and payable SGST for wholesaler and retailer.
Answers
Answer:
Rate of GST=18%
Input tax of whole sale =18% of 150000
=
100
18
×=Rs 27000
Out put tax =18% of 180000
=
100
18
×180000=Rs 32100
out put tax (xetailer) =18% of 220000
=
100
18
×220000=Rs 39600
⇒ GST in tax in various of retailer
GST (in retailer )=GST (retailer)
=
2
output tax (retailer)
=
2
39600
=Rs. 19800
GST payable by wholesales =
output tax (wholesale)-input (wholesale)
=Rs 32400−Rs 27000=Rs 5400
Rate of GST=18%
input tax wholesale =18% of 15000
=
100
18
×150000=Rs 27000
output tax=18\%of180000$$
=
100
18
×180000=Rs 32100
output tax (retailer)=18% of 22000
=
100
18
×2200000=Rs 39600
⇒ GST in tax variousof retailer
GST (in retailer) =GST (retailer)
=
2
output tax (retailer)
=
2
39600
=Rs 19800
GST payable by wholesale
output tax (whole sale) -input (whole sale)
=Rs 32400−Rs 27000=Rs 5400
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