There are three dealers A, B and C in Maharashtra. Suppose, the trade of each of them in september 2018 was as shown in the following table. The rate of GST on each transaction was 5%. Read the table and answer the questions below it. Dealer GST collected on the sale GST paid at the time of purchase ITC Tax paid to the Govt. Tax-balance with the Govt. A Rs. 5000 Rs. 6000 Rs. 5000 Rs. 0 Rs. 1000 B Rs. 5000 Rs. 4000 Rs. 4000 Rs. 1000 Rs. 0 C Rs. 5000 Rs. 5000 Rs. 5000 Rs. 0 Rs. 0 (i) How much amount did the dealer A get by sale ? (ii) For how much amount did the dealer B buy the articles ? (iii) How much is the balance of CGST and SGST left with the government that was paid by A ?
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The answer is given in the answer ebalbharathi paper 3 answers section.
Th main question is i think which everyone has is that why it is taken as 100÷5 instead of 5÷100.
Step-by-step explanation:
The reason is that they have already given us the gst amount and they have asked us to find out the amount the dealer got by sale. So to find the amount received we have to take 100÷5 and not 5÷100 because if use 5÷100 then we would be getting the answer as rs. 250 which is wrong and also gst amount at the time of sale is already provided. This is the reason.
Hope this will help you........
Th main question is i think which everyone has is that why it is taken as 100÷5 instead of 5÷100.
Step-by-step explanation:
The reason is that they have already given us the gst amount and they have asked us to find out the amount the dealer got by sale. So to find the amount received we have to take 100÷5 and not 5÷100 because if use 5÷100 then we would be getting the answer as rs. 250 which is wrong and also gst amount at the time of sale is already provided. This is the reason.
Hope this will help you........
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