Mathematics
A retailer buys an article at its listed price from a wholesaler and sells it to a consumer in the same state after marking up the price by 20%. The list price of the article is ₹ 2500, and the rate of GST is 12%. What is the tax liability of the retailer to the central government?
₹ 0
₹ 15
₹ 30
₹ 60
GST
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Answer
For retailer,
C.P. = ₹ 2500
G.S.T. = 12%
C.G.S.T. = % = 6%.
C.G.S.T. paid = = ₹ 150.
Given,
Retailer sells the article to the consumer in the same state after marking up the price by 20%.
S.P. = ₹ 2500 + 20%
= ₹ 2500 +
= ₹ 2500 + ₹ 500
= ₹ 3000.
C.G.S.T. = 6%
C.G.S.T. charged = = ₹ 180.
Tax liability = C.G.S.T. charged - C.G.S.T. given
= ₹ 180 - ₹ 150
= ₹ 30.
Hence, Option 3 is the correct option.
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