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 ando output GST for krishna electricals if the rate of GST is 18%

Answer 1

Given,

C.P = Cost Price = Rs 36,000

M.P = Market Price = Rs 50,000

Discount = 10%

S.P = (50,000 x 90)/100

S.P = Rs 45,000.

18% GST on C.P (Input GST)

=> (18 x 36,000)/100

=> 18 x 360

=> Rs. 6480 (Paid by Krishna Electrical's at time of Purchase)

18% GST on S.P (Output GST)

=> (18 x 45,000)/100

=> 18 x 450

=> Rs. 8100 (Paid by Kalyan Deshmukh at time of Purchase)

Total GST paid by Krishna Electrical's is: 8100 - 6480 =  Rs 1620