A shopkeeper bought an A.C. from a distributor at a discount of 25% on the list price of ₹ 64,000. The shopkeeper sells the A.C. to a consumer at the list price. If the sales are intra-state and the rate of GST is 18%, then find :
(i) the S.P. of the A.C., including GST by the distributor.
(ii) the tax paid by the distributor to the State government.
(iii) the tax under GST paid by the shopkeeper to the Central government.
(iv) the tax under GST received by the state government.
(v) The price including tax under GST of the A.C. paid by the customer.

Question

A shopkeeper bought an A.C. from a distributor at a discount of 25% on the list price of ₹ 64,000. The shopkeeper sells the A.C. to a consumer at the list price. If the sales are intra-state and the rate of GST is 18%, then find :
(i) the S.P. of the A.C., including GST by the distributor.
(ii) the tax paid by the distributor to the State government.
(iii) the tax under GST paid by the shopkeeper to the Central government.
(iv) the tax under GST received by the state government.
(v) The price including tax under GST of the A.C. paid by the customer.

KnowledgeBoat · Accepted Answer

M.P. of A.C. = ₹ 64000 (i) For distributor S.P. of A.C. (without GST) = ₹ 64000 - ₹ 25% of ₹ 64000 = ₹ 64000 - = ₹ 64000 - ₹ 16000 = ₹ 48000. GST = 18% of ₹ 48000 = = ₹ 8640. S.P. (with GST) = ₹ 48000 + ₹ 8640 = ₹ 56640. Hence, the S.P. = ₹ 56640. (ii) GST paid by distributor = ₹ 8640. Tax paid by distributor to State government = = ₹ 4320. Hence, the tax paid by distributor to State government = ₹ 4320. (iii) For shopkeeper : C.P. = S.P. for distributor = ₹ 48000 Input tax = 18% of ₹ 48000 = = ₹ 8640. Output tax = Tax paid by consumer C.P. for consumer = ₹ 64000 GST paid by consumer = 18% of ₹ 64000 = = ₹ 11520. Output tax = ₹ 11520. Tax paid by shopkeeper under GST to government = Output tax - Input tax = ₹ 11520 - ₹ 8640 = ₹ 2880 CGST = = = ₹ 1440. Hence, the tax under GST paid by the shopkeeper to the Central government = ₹ 1440. (iv) Tax received by state government = SGST paid by consumer = = = ₹ 5760. Hence, the tax received by State government = ₹ 5760. (v) The price including tax under GST of the A.C. paid by the customer = C.P. for customer + GST paid by consumer = ₹ 64000 + 18% of ₹ 64000 = ₹ 64000 + ₹ 11520 = ₹ 75520. Hence, the price including tax under GST of the A.C. paid by the customer = ₹ 75520.

Mathematics

GST

Related Questions

Rohit purchased an article and paid GST of ₹ 10,400. He sold the article to Manish and collected GST of ₹ 11,000. Geeta purchased the same article from Manish and paid GST of ₹ 11,800. Find the amount of SGST and CGST payable at each stage if each transaction is intra state.