a wholesaler sold an article to a dealer for ₹80,000. the dealer then sells the article to a shopkeeper at a profit of ₹15,000. if the rate of gst is 12% and all the sales are intra-state, find : (i) the price inclusive of tax (under gst) at which the shopkeeper bought the article. (ii) the tax (under gst) paid by the dealer to the state government. (iii) the tax (under gst) received by the central government.
Answers
Given : a wholesaler sold an article to a dealer for ₹80,000. the dealer then sells the article to a shopkeeper at a profit of ₹15,000.
the rate of gst is 12% and all the sales are intra-state,
To find :
(i) the price inclusive of tax (under gst) at which the shopkeeper bought the article.
(ii) the tax (under gst) paid by the dealer to the state government.
(iii) the tax (under gst) received by the central government.
Solution:
a wholesaler sold an article to a dealer for ₹80,000.
GST = (12/100)80000 = 9600
CGST = SGST = 9600/2 = 4800 Rs
. the dealer then sells the article to a shopkeeper at a profit of ₹15,000.
Hence sells for 80000 + 150000 = 95000
GST = (12/100)95000 = 11400 Rs
CGST = SGST = 11400/2 = 5700 Rs
the price inclusive of tax (under gst) at which the shopkeeper bought the article. = 95000 + 11400 = 106400 Rs
the tax (under gst) paid by the dealer to the state government.
= 5700 - 4800
= 900 Rs
the tax (under gst) received by the central government. = 5700 Rs
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