Question

masco cosmetics purchased some beauty product from lovely pvt.ltd. at rupees 10000 and sold to purple traders for rupees 12000 purple traders sold it to consumer for 15000 if the rate of gst is 18% then find the payable by masco cosmetics and purple traders

Answer 1

masco cosmetics purchased some beauty product from lovely pvt.ltd. at rupees 10000....

Answer:

Taxable amount for masco = 360 Rs

Taxable amount for trader = 540 Rs

Step-by-step explanation:

Since for the masco

Selling price = 12000 Rs

Purchasing price = 10000 Rs

Taxable amount = Selling price - purchasing price = 12000 - 10000 = 2000

Payable tax = 18 % of 2000 = (18/100)2000 = 360 Rs

Similarly for the trader

Selling price = 15000 Rs

Purchasing price = 12000 Rs

Taxable amount = Selling price - purchasing price = 15000 - 12000 = 3000

Payable tax = 18 % of 3000 = (18/100)3000 = 540 Rs

Thus

Taxable amount for masco = 360 Rs

Taxable amount for trader = 540 Rs

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