Question

Q.1 A dealer buys spices worth Rs. 18000 and prints an MRP of RS. 24000 on them allowing 10% discount. If the rate of GST is 5%, Find (1) the amount paid by the buyer and (i)the net GST paid by the dealer to the government if the sale is intra-state.

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Answer 1

Answer:

C. P. of spices= ₹18000

M. P. of spices= ₹24000

Discount= 10% of M. P.

$\frac{10}{100} \times 24000 = 2400$

S. P. = M. P. - Discount

=24000-2400

=₹21600

(I) S. P. = ₹21600

Gst on it= 5%

Cgst=2.5% of 21600

$\frac{2.5}{100} \times 21600 = 540$

Similarly sgst=540

Total price paid by the buyer=

21600+540+540=

₹22680

(ii) Net gst payable to the government= tax on profit

Profit = 21600-18000= ₹3600

tax on profit=

$\frac{5}{100} \times 3600 = 180$

NET GST PAYABLE TO THE GOVERNMENT=₹180

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