the marked price of an article from a wholeseller for ₹4500 and the rate of tax is 5% . A shop keeper buys it at a discount and sells it to a customer at the marked price . If GST deposited by the state and the central Government is ₹72 find (i) the price paid by the shopkeeper for the article inclusive of tax and (ii) the percentage of discount enjoyed by him.
Answers
Answer:
Step-by-step explanation:
(i)The marked price of the article = ₹12500
When sold at a profit of 8%
Profit = (8/100) x ₹12500 = ₹1000
Thus, the selling price (excluding tax) of the article = Marked price + profit
= ₹12500 + ₹1000
= ₹13500
(ii) The rate of GST = 18%
IGST is not applicable in this case since the dealing is intra state
CGST paid by the dealer to the Central Government = 9% of the selling price
= (9/100) x ₹13500
= ₹1215
And,
SGST paid by the dealer to the State Government = 9% of the selling price
= (9/100) x ₹13500
= ₹1215
(iii) Hence, the total amount which the consumer pays for the article will be
= Selling price + CGST + SGST
= ₹13500 + ₹1215 +
₹1215
= ₹15930
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