Mohan buy a TV from a wholesaler for ₹ 30,000.He marks the price of TV 10% above the cost price and sells it to Sohan at a discount of 5% on the market price, if the sale is inter-state and the rate of GST is 12%.
Find (i) the marked price of the TV.
(ii)the amount which Sohan pays to Mohan for the TV.
(iii) the amount of tax paid by Mohan to the central government.
(iv)the amount of tax received by the state government.
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Retailer buy TV for Rs 40000
GST on 40000 = (12/100)*40000 = Rs 4800
Total Amount Paid = 40000 + 4800 = Rs 44800
Marked price = 15 % above 40000 without GST
= 40000 + (15/100)*40000 = Rs 46000 without GST
Discount of 5 % = 46000 - (5/100)46000 = RS 43700
Consumer Paid = 43700 + 12%GST
= 43700 + (12/100)43700
=Rs 48994
GST received from Consumer = (12/100)* 43700 = Rs 5244
GST already paid to whole seller = Rs 4800
Remaining GST to be paid = 5244 - 4800 = Rs 444
Central GST = 444/2 = Rs 222
Central GST = 444/2 = Rs 222State GST = 444/2 = Rs 222
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