Q1. Find the original price ,if the net price of an item including 18%GST is
Rs.2360.
Answers
Answer:
If the total amount is Rs. 2065, including the GST 18%, then what is the actual price?
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Let me use some technical terms so that it will be easy for you in future also
Assuming intra-state (within state) supply
Gross amount (total amount collected) = Taxable value(value on which tax is calculated) + CGST + SGST
Gross amount (Rs. 2065) = Taxable value + 9% taxable value (CGST) + 9% taxable value (SGST)
Simple back calculation will give you
Taxable value = Rs. 1750/-
SGST = Rs. 157.5/-
CGST = Rs. 157.5/-
If it is inter-state supply and IGST (18%) is leviable, then
Taxable value = Rs. 1750/-
IGST = Rs. 315/-
Step-by-step explanation:
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Step-by-step explanation:
Steps:
1) let us assume X as the actual price.
2) so the total amount is X(actual price)+18%(of the actual price)=2065
X+18%(X)=2065
that is equal to, X+0.18X=2065
ie, X(1+0.18)=2065
1.18X=2065
therefore, X=2065/1.18
hence X=1750
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