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%
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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
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