) A wholesaler purchased electric goods for the taxable amount of Rs. 1,80,000/-. He sold it to the retailer for the taxable amount of Rs. 2,10,000/-. Retailer sold it to the customer for the taxable amount of Rs. 2,50,000/-. 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. *
Right answers will be mark as brainliest
Wrong will reported ....
Answers
Answer:
For wholesaler,
Taxable amount of Electric Goods =Rs. 1,50,000.
Therefore,
tax paid at the time of purchase (ITC)
= 18 of 150000=18%bof rs150000
=Rs27000
Now,
Tax collected at the time of sale (output tax)
= 18/100×180000= 32400
Therefore,
CGST and SGST shown in the tax invoice of wholesaler,
= 32400/2 = Rs 16200
Therefore,
GST payable by wholesaler=Output tax-ICT
GST payable by wholesaler = 32400 - 27000
GST payable by wholesaler = 5400
GST payable by wholesaler=Rs5400
Therefore,
CGST to be paid by wholesaler = 5400/2CGST to be paid by wholesaler = Rs 2700
CGST to be paid by wholesaler=Rs2700
Therefore,
CGST =SGST = Rs 2700 is payable by wholesaler .
Now we will find for the retailer.
2.For retailer,
Tax paid at the time of purchase(ITC)=Rs32400
Tax collected at the time of sale (Output tax)
= 18/100× 220000 = 39600
Therefore,
CGST and SGST shown in the tax invoice of retailer,
= 39600/2 = Rs 19800
=Rs19800
GST payable by retailer =output tax -ITC
GST payable by retailer = 39600 - 32400
GST payable by retailer=39600−32400
GST payable by retailer = Rs 7200
Therefore,
CGST payable by retailer, 72000/2 = Rs3600
=Rs3600
Therefore,
CGST =SGST =Rs 3600 payable by retailer.
The CGST and SGST paid by the wholesaler =Rs 2700.
And the CGST and SGST paid by the retailer =Rs 3600.
Answer:
thanks for free points ❤️❤️
because the legend answer to u it is more than enough I think so
Step-by-step explanation:
i comment here because I want to chat with legend that what sorry