Question

⭐⭐⭐ question of the day


A wholesaler purchased electric goods for the taxable amount of Rs 1,50,000.He sold it to the retailer for the taxable amount of Rs. 1,80,000.Retailer sold it to the customer for the taxable amount of Rs.2,20,000.Rate of GST is 18%. Show the computation of GST in tax invoices of sales. Also find the payable CGST and payable SGST for wholesaler and retailer.​

Answer 1

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For WHOLESALERS

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• It is given that Taxable amount of electric goods Rs 1,50,000

• Rate of GST is 18%.

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• THE GST PAID BY THE WHOLESALER =

$\frac{18}{100} \times 150000 = 27000 \: \: \:$

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• TAX COLLECTED AT TIME OF SALE

• OUTPUT TAX

$= 18\% \: of \: 180000 \\ \\ \frac{18}{100} \times 180000 = 32400 \: \: \: \:$

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• CGST AND SGST SHOW IN THE ABOVE TAX INVOICE OF WHOLESALER

$= \frac{32400}{2} = 16200 \: rs$

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• GST PAYABLE BY THE WHOLESALERS

• = OUTPUT TAX -ITC

$(32400 - 27000) =5400 \: rs$

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• CGST PAID BY THE WHOLESALERS

$\frac{5400}{2} = 2700 \: rs$

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• PAYABLE BY THE WHOLESALERS

• CGST =SGST =2700

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FOR RETAILERS:

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• THE TAX PAID AT THE TIME OF THE PURCHASE

• =(ITC) =32400 Rs

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• TAX COLLECTED AT THE TIME OF SALE AND THE OUTPUT TAX OF THE RETAILERS

$= 18 \: \% \: of \: 220000 \\ \\ \frac{18}{100} \times 220000 \\ \\ = 39600$

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• CGST AND SGST SHOW IN THE

TAX INVOICE OF RETAILERS

$= \frac{39600}{2} \\ \\ = 19800$

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• GST PAYABLE BY THE RETAILERS

• =OUTPUT TAX- ITC

$= 39600 - 32400 \\ \\ = 7200$

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• CGST PAYABLE BY THE WHOLESALERS

$\frac{7200}{2} = 3600$

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• SGST = CGST

3600 Rs PAYABLE BY THE RETAILERS

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