Mr. Kumar a Registered dealer purchased goods worth Rs.40000 from a dealer (within the same state). If the rate of GST is 18% (i) Calculate the input CGST and the input SGST (ii) If he sold these goods to Mr. Dev (with in the State) for Rs.5000, calculate Mr. Kumars output CGST and output SGST. (iii) Calculate the CGST and SGST payable by Mr. Kumar
Answers
The Input CGST and SGST is 3600, output CGST and SGST is 4500, while the CGST and SGST is 900
Given:
Purchase price of goods = 40,000
GST = 18%
To Find:
(i) input CGST and the input SGST
(ii) If he sold these goods to Mr. Dev (with in the State) for Rs.5000, calculate Mr. Kumars output CGST and output SGST.
(iii) CGST and SGST payable by Mr. Kumar
Solution:
Since the dealings are taking place within the state, thus -
CGST = SGST = 1/2 × GST
(i) Rate of GST = 18%
Hence, CGST = SGST = 9%
S.P. of goods for a dealer = ` 40,000
CGST = 9% of 40,000
= 9/100 × 50,000
= 3600
SGST = 9% of 40,000
= 9/100 × 40,000
= 3600
Hence, Input CGST = Input SGST Rs. 3600
(ii) S.P. of goods for Mr. Kumar = ` 50,000
CGST = 9% of 40,000
= 9/100 × 50,000
= 4500
SGST = 9% of 50,000
= 9/100 × 40,000
= 4500
Hence, Output CGST = Output SGST Rs. 4500
(iii) CGST payable the government = Output CGST – Input CGST
= ` 4500 – ` 3600 = ` 900
SGST payable to the government = Output SGST – Input SGST
= ` 4500 – ` 3600 = ` 900
Answer: The Input CGST and SGST is 3600, output CGST and SGST is 4500, while the CGST and SGST is 900
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Answer: The Input CGST and SGST both are Rs.3600, output CGST and SGST both are Rs.4500, while the CGST and SGST both are Rs.900.
Given: Purchase price of goods = 40,000 and GST = 18%.
To Find:
- Input CGST and the input SGST.
- If he sold these goods to Mr. Dev (with in the State) for Rs.5000, calculate Mr. Kumars output CGST and output SGST.
- CGST and SGST payable by Mr. Kumar.
Step-by-step explanation:
Step 1: Considering that the transactions are being conducted within the state, -
CGST = SGST = 1/2 × GST
Rate of GST = 18%
Thus, CGST = SGST = 9%
S.P. of goods for a dealer = Rs.40,000
CGST = 9% of Rs.40,000
= 9/100 × Rs.50,000
= Rs.3600
SGST = 9% of Rs.40,000
= 9/100 × Rs.40,000
= Rs.3600
Thus, Input CGST = Input SGST Rs. 3600
Step 2: S.P. of goods for Mr. Kumar = Rs.50,000
CGST = 9% of Rs.40,000
= 9/100 × Rs.50,000
= Rs.4500
SGST = 9% of Rs.50,000
= 9/100 × Rs.40,000
= Rs.4500
Hence, Output CGST = Output SGST Rs. 4500
Step 3: CGST that must pay to the government = Output CGST – Input CGST
= Rs.4500 – Rs.3600 = Rs.900
SGST that must pay to the government = Output SGST – Input SGST
= Rs.4500 – Rs.3600 = Rs.900
Hence, payable CGST and SGST = Rs.900
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