m/s x-electronics purchased a mobile having some taxable value and sold it to a customer for 10000 rs.(taxable value).the rate of gst is 12 percent .m/s x-electronics paid gst of rs.60.what is the purchase price of the mobile for m/s x-electronics
Answers
Given : m/s x-electronics purchased a mobile having some taxable value and sold it to a customer for 10000 rs.(taxable value).the rate of gst is 12 %
To Find : the purchase price of the mobile for m/s x-electronics
Solution:
Let say Cost Price of Mobile = 100C Rs
12 % GST = (12/100) 100C = 12C Rs
purchase price of the mobile for m/s x-electronics = 100C + 12C = 112C Rs
Sold to Customer for Rs 10000
12 % GST = (12/100) 10000 = Rs 1200
GST Paid by m/s x-electronics = 1200 - 12C Rs
1200 - 12C = 60
=> 100 - C = 5
=> C = 95
100C = 9500 Rs ( Price before Tax)
the purchase price of the mobile for m/s x-electronics = 112 * 95
= Rs 10640
the purchase price of the mobile for m/s x-electronics Rs 10640 (including GST)
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