Question

Manufacturer A sells a Washing Machine to B for 12500. B sells it to a customer at a profit of 1500. If the sales are intrastate and the rate of GST is 12% find the amount of tax (under GST) paid by the dealer B to the Central Government. Amount of tax under GST received by the state government. The amount that the consumer, pays for the machine

Answer 1

Answer:

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Answer 2

Step-by-step explanation:×

Given: Amount =Rs 12500, GST = 12%,profit =Rs1500

Step 1:

Amount paid by dealer B = 12500+6/100×12500

                                               12500+750

                                            = 13250

Step 2:

If the SGST is of dealer B then SGST = 6/100×12500

                                                               = 750

if it is to the consumer then = 12500+1500+6/100×14000

                                              = 14000+840

                            the amount = 14840

Input tax credit(ITC) = Input tax - OUTPUT TAX

                         = 840-750=90 Rs

ITC= 90rs

Amount paid by State = GST of dealer A + B

                                      = 750+90

                                      = 840

Step 3

Since profit = 1500 and amount is 12500,

Total price = 12500+1500

                  = 14000

Amount including gst = 14000+12/100×14000   ( AS CGST =SGST)

                                    = 14000 + 1680

                                       = 15680

Amount paid by consumer = 15680