Mr Sawant purchased a machine for 8850 rupees with GST and sold it to the consumer for 10030 rupees with GST rate of GST is 18% find the amount of cgst and sgst to be paid by Mr Sawant
Answers
Answer:
Step-by-step explanation:
Input tax Rs. 8850
ITC=RS. 8850
Output tax Rs. 10030
GST payable =
OUTPUT TAX - ITC
10030-8850
1180 RS
GST RATE 18% OF 1180
18/100*1180
212.4₹
CGST=SGST= 212.4/2
₹106.2
Answer:
Step-by-step explanation:
Let actual price of machine is
X
With 18% GST
X×118/100=8850
X= 7500
GST(Purchased) = 8850-7500=1350
Mr Sawant sold it at 10030.
Let price he marked (MP) = Y
Y +Y×18/100 =10030
Y= 8500
so
GST (Sell) = Selling P - MP
(GST) = 10030-8500=1530 Rs.
ITC claim = 1350 (1st GST)
Total GST paid = 1530-1350 =180
GST is divided in two equal parts
Central GST = State GST
CGST- 180/2= 90rupees
SGST -180/2 = 90 rupees
Answer -90 & 90
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【What is itc claim ??~
one can claim gst amount paid on purchase if he have to pay gst on selling the product