Gooods/services are sold from Agra (UP)to kanpur (UP) for Rs20,000 and then from kanpur to Jaipur (Rajasthan).If the rate of GSTis 18% and the profit made in Kanpur is Rs 5,000,find: (1)the net GST payable by the dealer at Kanpur. (2) the cost of goods/services at Jaipur.
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Answers
the cost of goods/services at Jaipur. = Rs 29500 , net GST payable by the dealer at Kanpur. = Rs 900
Step-by-step explanation:
Goods/services are sold from Agra (UP)to kanpur (UP) for Rs20,000
GST = 18 %
CGST = SGST = 9 %
CGST = SGST = (9/100)20000 = Rs 1800 each
kanpur to Jaipur (Rajasthan) with 5000 Profit
Selling Price = 20000 + 5000 = Rs 25000
interstate
IGST = (18/100) 25000 = Rs 4500
the cost of goods/services at Jaipur. = 25000 + 4500 = Rs 29500
net GST payable by the dealer at Kanpur. = 4500 - (1800 + 1800)
= Rs 900
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Goods/services are sold from Agra (UP)to kanpur (UP) for Rs20,000
GST = 18 %
CGST = SGST = 9 %
CGST = SGST = (9/100)20000 = Rs 1800 each
kanpur to Jaipur (Rajasthan) with 5000 Profit
Selling Price = 20000 + 5000 = Rs 25000
interstate
IGST = (18/100) 25000 = Rs 4500
the cost of goods/services at Jaipur. = 25000 + 4500 = Rs 29500
net GST payable by the dealer at Kanpur. = 4500 - (1800 + 1800)
= Rs 900