The printed price of a carpet is Rs. 25,000/-. A wholesaler in West Bengal buys the
carpet from the manufacturer in Maharashtra at a discount of 15% on the printed price.
The wholesaler sells the carpet to a retailer in Bihar at 32% above the marked price. If
the rate of GST on the carpet is 5%, find – 2+2+2 = 6
i) The price inclusive of GST at which the wholesaler bought the carpet.
ii) The price inclusive of GST at which the retailer bought the carpet.
iii) GST paid by the wholesaler to the Central Government.
Answers
Given : The printed price of a carpet is Rs. 25,000/-
wholesaler in West Bengal buys the carpet from the manufacturer in Maharashtra at a discount of 15% on the printed price.
The wholesaler sells the carpet to a retailer in Bihar at 32% above the marked price.
rate of GST on the carpet is 5%,
To Find : i) The price inclusive of GST at which the wholesaler bought the carpet.
ii) The price inclusive of GST at which the retailer bought the carpet.
iii) GST paid by the wholesaler to the Central Government.
Solution:
All transactions are interstate hence IGST will be applicable
IGST = GST
printed price of a carpet is Rs. 25,000/-
15 % Discount = (15/100)25000 = Rs 3750
Price before GST = 25000 - 3750 = 21250 Rs
IGST = (5/100)21250 = Rs 1062.5
Amount inclusive of GST = 21250 + 1062.5 = Rs 22312.5
The price inclusive of GST at which the wholesaler bought the carpet. = Rs 22312.5
The wholesaler sells the carpet to a retailer in Bihar at 32% above the marked price.
Price before taxes = 25000 + (32/100)25000 = Rs 33000
IGST = (5/100)33000 = 1650 Rs
The price inclusive of GST at which the retailer bought the carpet. = 33000 + 1650 = 34650 Rs
GST paid by the wholesaler to the Central Government. = 1650 = 1062.5
= 587.5 Rs
(Center later share GST amount between state govts and Central governments )
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