Question

In a GST chain, a dealer Mr. Shah purchases an article for 50000 and supplies it to another

dealer Mr. Paresh at a profit of ? 6000. Mr. Paresh sells it to a consumer Mrs

sumer Mrs. Gupta at

profit of 4000. If the rate of GST is 18% and if all transactions were intrastate, cale

( ITC for Mr. Shah

) Input Tax payable by Mr. Paresh

() Total cost price of the article for Mrs. Gupta

(iv) Output GST for Mrs Gupta




Please answer this question fast this is very urgent
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Answer 1

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.