The printed price of an article is ₹ 60000. The manufacturer allows a discount of 25% to a dealer A. The dealer A sells the article to another dealer B at a discount of 12% on the marked price. The dealer B sells it to a consumer at 5% above the printed price. If all the sales are intra state and the rate of GST is 18%, find : (i) the price of the article inclusive of ta (under GST) paid by dealer A. (ii) the price of the article inclusive of tax (under GST) paid by dealer B. (iii) the amount which the consumer pays for the article. (iv) the amount of tax (under GST) paid by dealer A to the Central Government. (v) the amount of tax (under GST) paid by dealer B to the State Government. (vi) the amount of tax (under GST) received by the Central Government.
Answers
Given : The printed price of an article is ₹ 60000.
The manufacturer allows a discount of 25% to a dealer A.
The dealer A sells the article to another dealer B at a discount of 12% on the marked price.
The dealer B sells it to a consumer at 5% above the printed price.
all the sales are intra state and the rate of GST is 18%,
To find : (i) the price of the article inclusive of ta (under GST) paid by dealer A.
(ii) the price of the article inclusive of tax (under GST) paid by dealer B.
(iii) the amount which the consumer pays for the article.
(iv) the amount of tax (under GST) paid by dealer A to the Central Government.
(v) the amount of tax (under GST) paid by dealer B to the State Government.
(vi) the amount of tax (under GST) received by the Central Government.
Solution:
The printed price of article = ₹ 60000
The manufacturer allows a discount of 25% to a dealer A
=> Price after discount = 60000 - (25/100) 60000 = ₹ 45000
GST = 18 % = (18/100) 45000 = ₹ 8100
CGST = SGST = GST/2 = 8100/2 = ₹ 4050
Amount inclusive of Tax = 45000 + 8100 = ₹ 53100
(i) the price of the article inclusive of tax (under GST) paid by dealer A. = ₹ 53100
dealer A sells the article to another dealer B at a discount of 12% on the marked price.
Price after discount = 60000 - (12/100) 60000 = ₹ 52800
GST = 18 % = (18/100) 52800 = ₹ 9504
CGST = SGST = GST/2 = 9504/2 = ₹ 4752
Amount inclusive of Tax = 52800 +9504 = ₹ 62304
ii) the price of the article inclusive of tax (under GST) paid by dealer B. = ₹ 62304
The dealer B sells it to a consumer at 5% above the printed price.
Price = 60000 + (5/100) 60000 = 63000
GST = 18 % = (18/100) 63000 = ₹ 11340
CGST = SGST = GST/2 = 11340/2 = ₹ 5670
Amount inclusive of Tax = 63000 + 11340 = ₹ 74340
(iii) the amount which the consumer pays for the article. ₹ 74340
(iv) the amount of tax (under GST) paid by dealer A to the Central Government = 4752 - 4050 = ₹ 702
(v) the amount of tax (under GST) paid by dealer B to the State Government.
5670 - 4752 = ₹ 918
(vi) the amount of tax (under GST) received by the Central Government.
= ₹ 5670 ( Paid by consumer )
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