Question

A wholesaler purchased electric goods for the taxable amount of Rs 1,50,000.He sold it to the retailer for the taxable amount of Rs. 1,80,000.Retailer sold it to the customer for the taxable amount of Rs.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.

Answer 1

ANSWER:

_____________________________

First we will find out for the whole saler and then for the retailer respectively.

1.For wholesaler,

Taxable amount of Electric Goods =Rs. 1,50,000.

Therefore,
tax paid at the time of purchase (ITC)
$= 18\% \: of \: rs \: 150000$
$= \frac{18}{100} \times 150000$
$= Rs \: 27000$
________________________
Now,
Tax collected at the time of sale (output tax)

$18\% \: of \: Rs \: 180000$

$= \frac{18}{100} \times 180000$
$= Rs \: 32400$
_________________________

Therefore,

CGST and SGST shown in the tax invoice of wholesaler,

$= \frac{32400}{2} \\ \\ = Rs \: 16200$

Therefore,

GST payable by wholesaler=Output tax-ICT

$GST \: payable \: by \: wholesaler = Rs \: 32400 - 27000$
$GST\: payable \: by \: wholesaler = Rs \: 5400$
Therefore,
$CGST \: to \: be \: paid \: by \: wholesaler = \frac{5400}{2} \\ CGST \: to \: be \: paid \: by \: wholesaler \: = Rs \: 2700$
_________________________

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)

$= 18\% \: of \: Rs \: 220000$

$= \frac{18}{100} \times 220000 \\ \\ = Rs \: 39600$
_________________________

Therefore,

CGST and SGST shown in the tax invoice of retailer,
$= \frac{39600}{2} \\ \\ = Rs \: 19800$
________________________
GST payable by retailer =output tax -ITC

$GST \: payable \: by \: retailer = 39600 - 32400$
$gst \: payble \: by \: retailer = Rs \: 7200$
________________________

Therefore,

CGST payable by retailer,
$= \frac{7200}{2} \\ \\ =Rs \: 3600$
_________________________

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

$\huge{\tt{Ello!}}$

Solution:-

1.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

GSTpayable by wholesaler = 5400

GST payableby wholesaler=Rs5400

Therefore,

CGST to be paid by wholesaler = 5400/2CGST to be paid by wholesaler = Rs 2700

CGSTto 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 - 32400GST payable by retailer=39600−32400

gst payble by retailer = Rs 7200gst payble by retailer=Rs7200

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.