Question

Taxable value of a television set is 25,000. if rate of G.S.T. is 28% calculate the amount payable by the consumer.
1 point

Answer 1

Answer:

25000+28% of 25000=25000+7000=32000/-

Answer 2

Answer:

The amount payable by the consumer for the television set is 32,000.

Explanation:

The amount payable by the consumer can be calculated as follows:

G.S.T. = 28% of taxable value

= 28/100 * 25,000

= 7,000

Amount payable by the consumer = Taxable value + G.S.T.

= 25,000 + 7,000

= 32,000

Taxable value

• Taxable value refers to the value of goods or services on which a tax is levied. In the context of goods and services tax (GST), the taxable value is the amount on which the GST is calculated. It does not include the tax amount itself.

Amount payable

• Amount payable refers to the total amount that a consumer has to pay for a product or service, including any taxes or other charges.
• In the context of GST, the amount payable by the consumer includes the taxable value of the product or service as well as the GST amount calculated on the taxable value.

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