Question

The printed price of an article is rs.5000 q shopkeeper sells the article to a consumer at the printed price and charges gst at the rate 12% if the shopkeeper pays gst at rs.74 to the government at what price inclysive of gst did the shopkeeper buy the article from yhe wholesaler​

Answer 1

ANSWER

It is a case of intra-state transaction of goods and services

SGST=CGST=

2

1

GST

Given:

Marked price of an article =Rs.50000

Rate of GST =18%

The amount paid by the consumer for the article

SP of an article for consumer = Marked price - Discount

=Rs.50000−4% of Rs.50000

=Rs.50000−(4/100)×50000=Rs.5000−2000=Rs.48000

Amount of GST paid by consumer to dealer,

CGST=SGST=9% of Rs.48000

=(9/10)×48000=Rs.4320

Amount paid by consumer for article = CP of article for consumer + CGST paid by consumer +SGST paid by consumer =Rs.48000+Rs.4320+Rs.4320=Rs.56640