Krishna Electricals had bought a TV from a wholesaler at Rs 36000.
The marked price on it in Krishna Electricals was Rs. 50000. If it was
sold to Kalyan Deshmukh at 10% discount, calculate the input GST
and output GST for Krishna Electricals
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Rate of GST was missing in the question,
Assuming Rate of GST = 18%,
Input GST is the GST which is applicable on purchases.
Given that Krishna had bought a TV from a wholesaler at Rs 36000,
Given rate of GST = 18%,
Total Input GST amount =
18% of Purchase Amount
= 18/100 * 36000
=Rs 6480.
Output GST is the GST which is applicable on Sales.
Given that marked price on TV is Rs 50,000
Discount given = 10%
=> Sales Amount is 50,000 - 10%*50,000
= 50,000 - 5,000
= Rs 45,000
Output G.S.T amount =
18% of Sales Amount
= 18% of 45,000
=Rs 8,100
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