The printed price of an article is rupees 2500 a wholesaler in kerala by the article from manufacturer in rajasthan at a discount of 12% on printed price the wholesale sslc article to retailer in west bengal at 32 % above the marked price if the rate of gst on article is 5% find the price of inclusive tax at which wholesaler what the article ii gst paid by the wholesaler to the government
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Answer:
(i)The amount paid by retailer
List Price=Rs.2500
Discount rate=20%
Discount=20% of 2500=
100
20
×2500=Rs.500
Then the price of the article after discount=2500−500=Rs.2000
Rate of sales tax=10%
∴Tax paid by the retailer=10% of 2000
⇒
100
10
×2000=Rs.200
∴ retailer pay the amount to the wholeseller=2000+200=Rs.2200
(ii)VAT paid by the retailer
Retailer sell the article to customer at list price=Rs.2500
Rate of sales tax=10%
∴ Tax paid by the customer=10% of 2500
⇒
100
10
×2500=Rs.250
VAT=Tax paid by the customer-Tax paid by the retailer
VAT=250−200=Rs.50
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