Question

The following transactions of a retailer in Tamil Nadu show the
sale and purchase of some electronic items within the same state :
(i)Bought the goods at the list price of Rs. 55,00,000 with 20%
trade discount.
(ii)Sold the same whole goods at the list price of Rs. 70,00,000 with
30% trade discount
If both CGST and SGST are charged at 9% each , calculate to
determine whether there is a tax payable or tax credited during
the whole transaction, Also, in overall, find the profit or loss %, if
any.​
Please help me

Answer 1

Answer:

MRP = Rs. 12,000, Discount % = 30%, GST = 18%

Discount = 30% of 12,000 =

Selling price (discounted value) = 12000 - 3600 = Rs. 8400

CGST = 9% of 8400 = Rs. 756

SGST = 9% of 8400 = Rs. 756

IGST = 0

Amount of Bill = Selling price + CGST + SGST = 8400 + 756 + 756 = Rs. 9912