Mathematics
A shopkeeper buy goods worth ₹4000 and sells these at a profit of 20% to a consumer in the same state. If GST is charged at 5%, find:
(i) the selling price (excluding tax) of the goods.
(ii) CGST paid by the consumer.
(iii) SGST paid by the consumer.
(iv) the total amount paid by the consumer.
GST
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Answer
Purchase price of goods = ₹4000
Profit Percentage = 20%
Rate of GST = 5%
As the sales are intra-state and the rate of GST is 5%, so GST comprises of CGST at 2.5% and SGST at 2.5%
(i) The selling price (excluding tax) of the goods = Purchase price + Profit
(ii) CGST = 2.5% of 4800 = x 4800 = ₹120
(iii) SGST = 2.5% of 4800 = x 4800 = ₹120
(iv) The total amount paid by the consumer = Selling price of the goods + GST paid by the consumer
= ₹4800 + CGST paid by the consumer + SGST paid by the consumer
= ₹4800 + ₹120 + ₹120
= ₹5040
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A dealer buys an article for ₹6000 from a wholesaler. The dealer sells the article to a consumer at 15% profit. If the sales are intra-state and the rate of GST is 18%, find
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