Question

The total value (with GST) of a remote controlled toy car is Rs 1770. Rate of GST is 18% on toys. Find the taxable value, CGST & SGST for this toy car.​

Answer 1

Answer:

Total cost of toy including GST is $$Rs.1770$$

GST rate $$= 18%$$

Taxable Value is our Rate excluding GST.

So, $$1770 =$$ Rate excluding GST $$+ 18%$$ of Rate excluding GST

Let Rate excluding GST $$= p$$,

So, $$p+18\%\:of\:p=1770$$

$$\Rightarrow p + 0.18p = 1770$$

$$\Rightarrow 1.18p = 1770$$

$$\Rightarrow p = \dfrac{1770}{1.18}$$

$$\Rightarrow p = 1500$$

Taxable Value $$Rs.1500$$

$$GST = 18\% \:of\; 1500$$

$$GST = 0.18 \times 1500 =270$$

$$\therefore GST = 270$$

$$CGST = 9\%$$ and $$SGST = 9\%$$, which together form $$GST = 18\%$$

$$CGST = SGST = \dfrac{GST}{2}$$

$$CGST = SGST =\dfrac{270}{2} = Rs.135$$

Answer 2

Answer:

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