Question

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 if the rate of GST is 18%.

Answer 1

Answer:

Step-by-step explanation:

Cost price of TV is Rs.36000+18% GST (input GST) on 36000;

C.P. of TV =$\frac{36000*18}{100\\}$=36000+6480;

Total C.P of TV including input GST is =42480;

Selling price of TV is Rs. 50000-10% discount on marked price;

S.P.= 50000-$\frac{50000*10}{100\\}$

S.P.=45000;

Out Put GST on 45000 is=$\frac{18*45000}{100}$

Out put GST=8100;

Total Selling price including out put GST=45000+8100=53100;

Total profit of Krishna electricals is 53100-42480=Rs. 10620

Answer 2

Answer:

Input GST = Rs 5491

output GST = Rs 8100

Step-by-step explanation:

Find the Selling Price:

GST = 18%

Selling Price = 100 + 18 = 118%

Selling Price = Rs 36000

Find the input GST:

118% = Rs 36000

1% = 36000÷ 118 = Rs 305.08

18% = 305.08 x 18 = Rs 5491

Find the Selling Price after discount:

Discount = 10% of Rs 50000

Discount = 0.1 x 50000 = Rs 5000

Price after discount = 50000 - 5000 = Rs 45000

Find the output GST:

GST = 18% of Rs 45000

GST = 0.18 x 45000 = Rs 8100

Answer: Input GST = Rs 5491 and output GST = Rs 8100