I) the discount of 15% was given on the printed price rs. 32,000 of an article.12% gst was charges on discounted price. find the purchase price of article.also find the amount of cgst and sgst shown in the tax invoice?
Answers
The purchase price of article is Rs. 30,464 and the amount of CGST and SGST showed in the tax invoice is Rs. 1632.
Explanation:
Step 1:
The printed price of the article = Rs. 32,000
Rate of discount = 15%
So, the discount on the article = 15% of Rs 32,000 = 0.15 * 32000 = Rs. 4,800
∴ The taxable value of the article = Rs 32,000 − Rs 4,800 = Rs. 27,200
Step 2:
The rate of GST given = 12%
So, the amount of GST on the article will be = 12% of Rs 27,200 = 0.12 * 27200 = Rs. 3264
∴ The purchase price of the article is given by,
= [Taxable value of the article] + [Amount of GST on the article]
= Rs. 27,200 + Rs. 3264
= Rs. 30,464
Step 3:
Now we know that,
The amount of CGST = The amount of SGST
= ½ × [Amount of GST on the article]
= ½ × 3264
= Rs. 1632
Thus, the purchase price of the article is Rs. 30464 and the amount of CGST & SGST is shown Rs. 1632 in the tax invoice.
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