(c) A manufacturer sells a camera for 10000 to a dealer. The dealer sells it a customer at a profit of 12%. If all transactions are within the state and the rate of GST is 28%, calculate: (i) the GST paid by the dealer to the State Government.
(ii) the total tax received by the Central Government.
(iii) the price paid by the customer.
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Answers
Given : A manufacturer sells a camera for 10000 to a dealer.
The dealer sells it a customer at a profit of 12%.
all transactions are within the state and the rate of GST is 28%,
To Find :
(i) the GST paid by the dealer to the State Government.
(ii) the total tax received by the Central Government.
(iii) the price paid by the customer.
Solution:
A manufacturer sells a camera for 10000 to a dealer.
CGST = SGST = GST/2 = 28/2 = 14 %
CGST = SGST = (14/100) 10000 = 1400 Rs
The dealer sells it a customer at a profit of 12%.
=> SP = 10000 + (12/100) 10000 = 11200 Rs
CGST = SGST = (14/100) 11200 = 1,568 Rs
the GST paid by the dealer to the State Government. = SGST received - SGST credit
= 1568 - 1400
= 168 Rs
the total tax received by the Central Government. = CGST = 1568 Rs
the price paid by the customer. = 11200 + 1568 + 1568
= 14,336 Rs
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