Question

in a gst chain a dealer mr shah purchase an article for rs 50000 and supplies it to another dealer mr han at a profit of rs 6000 han sales it to consumer carn at a profit of rs 4000 . if the rate of gst is 18% and if all the transactions intrastate find

Answer 1

Answer:

Step-by-step explanation:

tax paid at time of purchase=50000

tax paid at the time of selling by Mr paresh=50000+6000=56000

tax paid at the time of selling by Mr Gupta=56000+4000=60000,

rate of GST=18%

1) ITC for Mr Shah=50000,

2) total cost price for article for Gupta=56000

3) GST payable for mr Gupta

56000-50000

=6000

now

18% of 6000=18*6000/100

=1000

hence, GST payable for Mr Gupta is 1080.