Mathematics
A dealer X in Hapur (UP) supplies goods/services, worth ₹ 50,000 to some other dealer Y in the same city. Now the dealer Y supplies the same goods/services to dealer Z in Calcutta at a profit of ₹ 20,000. Find :
(i) Output and input taxes for the dealer Y
(ii) Net GST payable by dealer Y.
[The rate of GST at each stage is 28%]
GST
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Answer
According to question we have,
For dealer X (intra-state transaction)
SP = ₹ 50000
For dealer Y (intra-state transaction)
CP = ₹ 50000
CGST = 14% of 50000 = = ₹ 7000
SGST = 14% of 50000 = = ₹ 7000
Input tax = ₹ 7000 + ₹ 7000 = ₹ 14000
Profit of dealer Y = ₹ 20000
S.P. of dealer Y = ₹ 50000 + ₹ 20000 = ₹ 70000.
For dealer Z (inter-state transaction)
CP = ₹ 70000
IGST = 28% of ₹ 70000 = = ₹ 19600
(i) Output tax for Y = Input tax for Z = ₹ 19600.
Input tax of dealer Y = ₹ 14000.
Hence, for dealer Y, Output tax = ₹ 19600 and Input tax = ₹ 14000.
(ii) Net GST payable by dealer Y = Output tax - Input tax
= ₹ 19600 - ₹ 14000 = ₹ 5600.
Hence, net GST payable for Y = ₹ 5600.
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