Question

) 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. *
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Answer 1

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 2

Answer:

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