the printed price of an article is rs50000. the wholesaler allows a discount of 10% to a shopkeeper. the shopkeeper sells the article to a consumer at 4% above the marked price. if the sales are intra-state and the rate of GST is 18%,find.: i) the amount inclusive of tax (under GST) which the shopkeeper pays for the article. ii) the amount paid by the consumer for the article. iii) the amount of tax (under GST) paid by the shopkeeper to the central government. iv) the amount of tax (under GST) received by the state government.
i) answer is rs53100
ii) answer is rs48944
iii) answer is rs222
iv) answer is rs2622
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Answers
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Step-by-step explanation:
It is a case of intra-state transaction of goods and services
SGST=CGST= 1/2 GST
Given:
Marked price of an article =Rs.50000
Rate of GST =18%
The amount inclusive of tax (under GST) which the shopkeeper pays of the articles
Rate of discount given by the wholesaler =10%
CP of an article for shopkeeper= Marked price - Discount
=Rs.50000−10% of Rs.50000
Rs.50000−(10/100)×50000
Rs.50000−5000=Rs.45000
Amount of GST paid by dealer to wholesaler,
CGST=SGST=9% of Rs.45000
=(9/10)×45000=Rs.4050
Amount paid by shopkeeper for an article = CP of an article for shopkeeper + CGST paid by consumer + SGST paid by consumer =Rs.45000+Rs.4050+Rs.4050=Rs.53100