Question

suppose a manufacturer sold cycle for the taxable value of rupees 4000 to the wholesaler . wholesaler sold to the retailer for taxable value of rupees 4800 . retailer sold to the customer for taxable value of rupees 5200 . rate of GST is 12%. find the payable cgst and sgst at each stage of trading​

Answer 1

The payable CGST and SGST at each stage of trading​ is 312 Rs.

Step-by-step explanation:

• For Wholesaler

GST = Taxable value×12/100

= 4000×12/100

GST =Rs.480

SGST= CGST=Rs.=240

• For Retailer

GST=4800×12/100

=Rs.576

SGST=CGST=Rs.288

• For customer

GST = 5200 × 12/100

=Rs.624

SGST= CGST=  312 Rs.

Hence the payable cgst and sgst at each stage of trading​ is 312 Rs.

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Answer 2

Answer:

$manufacture \: 4000 \div 12\% \: wholesaler \: 4800 \div 12\% \: retailer \: 5200 \div 12\% \: customer \: \\ output \: tax \: of \: manufacture \: = 12\% \: of \: 4000 = 480 \\ gst \: payable \: by \: manufacture = 480 \\ output \: tax \: of \: wholesaler \: = 12\% \: of \: 4800 = 576 \\ gst \: payable \: by \: wholesaler \: = output \: tax - input \: tax \: = 576 - 480 \\ = 96 \\ output \: tax \: of \: retailer \: = 12\% \: of \: 5200 = 624 \\ gst \: payable \: by \: retailer \: = output \: tax \: of \: retailer \: - itc \: of \: retailer \: \\ = 624 - 576 \\ = 48$