Question

Solve.
A wholesale dealer purchased spare parts of scooter with taxable
price of Rs. 2,50,000. He sold the whole lot to a retailer at a taxable
price of Rs. 2,80,000. After selling the lot the retailer got a taxable
amount of Rs. 3,50,000. If the rate of GST is 28%, how much GST
did the wholesaler pay ? How much GST did he charge to the retailer
Find the GST payable by wholesaler ?​

Answer 1

Answer:

THANKS FOR THE QUESTION !

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GIVEN :

=> WHOLESALER PURCHASED SPARE PARTS :

=> TAXABLE VALUE :

=> 2,50,000 RS

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GST :

=> 28%

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SO,

=> INPUT TAX FOR THE RETAILER :

=> 28% OF TAXABLE VALUE :

=> 28 / 100 * 2,50,000 RS

=> 70,000 RS

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HE SOLD IT TO RETAILER :

=> TAXABLE VALUE :

=> 2,80,000 RS

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GST :

=> 28%

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OUTPUT TAX FOR THE WHOLESALER :

=> 28% OF SELLING TAXABLE VALUE

=> 28 / 100 * 2,80,000 RS

=> 78,400 RS

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INPUT TAX CREDIT :

=> INPUT TAX :

=> 70,000 RS

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GST PAYABLE :

=> OUTPUT TAX - INPUT TAX CREDIT

=> 78,400 RS - 70,000 RS .

=> 8,400 RS