Mathematics
A retailer purchases a spectacles for ₹1500 from a wholesaler and sells it to a consumer at 10% profit. If the sales are intra-state and the rate of GST is 12%, then choose the correct answer from the given four options for question 1 to 6:
The selling price of the spectacles including tax (under GST) by the retailer is
- ₹1650
- ₹1800
- ₹1848
- ₹1830
GST
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Answer
From Question 1:
Selling price of the spectacles for retailer or cost price of the article for consumer = ₹1650
As the sales are intra-state and the rate of GST is 12%, so GST comprises of 6% as CGST and 6% as SGST. Retailer sells the spectacles to consumer for ₹1650, amount of GST collected by retailer from consumer(or paid by consumer):
CGST = 6% of 1650 = x 1650 = ₹99
SGST = 6% of 1650 = x 1650 = ₹99
∴ The Output Tax (under GST) for retailer:
Output CGST = 99
Output SGST = 99
∴ The selling price of the spectacles including tax (under GST) by the retailer is
= Cost price of spectacles for consumer + CGST paid by consumer + SGST paid by consumer
= 1650 + 99 + 99 = ₹1848
∴ Option 3 is the correct option.
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A retailer purchases a spectacles for ₹1500 from a wholesaler and sells it to a consumer at 10% profit. If the sales are intra-state and the rate of GST is 12%, then choose the correct answer from the given four options for question 1 to 6:
The selling price of the spectacles by the retailer (excluding tax) is
- ₹1500
- ₹1650
- ₹1848
- ₹1800
A retailer purchases a spectacles for ₹1500 from a wholesaler and sells it to a consumer at 10% profit. If the sales are intra-state and the rate of GST is 12%, then choose the correct answer from the given four options for question 1 to 6:
The tax (under GST) paid by the wholesaler to the Central Government is
- ₹90
- ₹9
- ₹99
- ₹180
A retailer purchases a spectacles for ₹1500 from a wholesaler and sells it to a consumer at 10% profit. If the sales are intra-state and the rate of GST is 12%, then choose the correct answer from the given four options for question 1 to 6:
The tax (under GST) paid by the retailer to the State Government is
- ₹99
- ₹9
- ₹18
- ₹198