Question

Goods and Services Tax:- (Mathematics)
A manufacturer sells a washing machine to a wholesaler for ₹15000. The wholesaler sells it to a trader at a profit of ₹1500 and the trader in turn sells it to a consumer at a profit of ₹1800. If the sales are intra-state and the rate of GST is 18% find:
i)The amount of GST received by the State and the Central Governments on the sale of this machine from the wholesaler and the trader.
ii)The amount that the consumer pays for the machine.

Answer 1

Step-by-step explanation:

Answer:

(i) Rs 900      (ii) Rs 1620          (iii) Rs 32256

Step-by-step explanation:

(i) To the wholesaler:

S.P of the washing machine = Rs 15000

GST = 12% of Rs 15000

Tax under GST received by the state government by the wholesaler = 6% of 15000

                 = (6 ÷ 100) x 15000

                 = Rs 900

(ii) Wholesaler sells the washing machine at a profit of Rs 12000

S.P of the washing machine to the trader = 15000 + 12000

                                                                 = Rs 27000

Tax under GST received by the central government by the trader = 6% of 27000

         = (6 ÷ 100) x 27000

         = Rs 1620

(iii) Trader sells the washing machine to the consumer at a profit of Rs 1800

S.P of the washing machine to the consumer = 27000 + 1800

                                                                       = Rs 28800

Taxes = 12% of 28800

         = (12 ÷ 100) X 28800

         = Rs 3456

Therefore, the total amount paid by the consumer for the washing machine = 28800 + 3456

                            = Rs 32256

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