Question

the marked price of the goods be rupees 6000 at the rate of GST on it 18%. a shopkeeper buys the good at the reduced price and sells it at its marked price if shopkeeper paid rupees 154 as the cgst to the government, find the amount inclusive of GST paid by the shopkeeper

Answer 1

Given : the marked price of the goods be rupees 6000  GST = 18 % , shopkeeper buys the good at the reduced price and sells it at its marked price  

shopkeeper paid rupees 154 as the cgst to the government,  

To Find :  the amount inclusive of GST paid by the shopkeeper

Solution:

Let say Price at which shopper keeper bought before GST = 100C  Rs

CGST = SGST = GST/2 = 9 %

CGST = SGST = (9/100)100C  = 9C Rs  

Amount Paid by shopkeeper = 100C + 9C + 9C = 118C  Rs

Shopkeeper sold for RS 6000

CGST = SGST = (9/100)6000  = Rs 540  

shopkeeper paid CGST to government = CGST received - ITC for CGST

ITC ( input Tax credit )  GST Paid while buying item

154  = 540 - 9C

=>  9C =  386

=> C = 386/9

the amount inclusive of GST paid by the shopkeeper = 118C

= 118 x 386/9

= 5,060.89  Rs

the amount inclusive of GST paid by the shopkeeper = 5,060.89  Rs

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