Mathematics
A shopkeeper in Punjab buys an article at a printed price of ₹ 20,000 from a wholesaler in Delhi. The shopkeeper sells the article to a customer in Punjab at a profit of 25% on the cost price. If the rate of GST is 18%, find :
(i) the price of the article (inclusive of GST) for the shopkeeper.
(ii) the amount of tax under GST received, paid by the shopkeeper to the government.
GST
106 Likes
Answer
(i) M.P. = ₹ 20000
For shopkeeper,
Cost price = ₹ 20000
GST = 18% of ₹ 20000 = = ₹ 3600.
Price of article = ₹ 20000 + ₹ 3600 = ₹ 23600.
Hence, the price of the article (inclusive of GST) for the shopkeeper is ₹ 23600.
(ii) For consumer,
Cost price = ₹ 20000 + 25% of ₹ 20000
= ₹ 20000 +
= ₹ 20000 + ₹ 5000
= ₹ 25000.
GST paid by consumer = 18% of ₹ 25000
=
= ₹ 4500.
Output tax for shopkeeper = Tax paid by consumer = ₹ 4500.
Input tax for shopkeeper = ₹ 3600.
∴ Tax paid by shopkeeper to government = Output tax - Input tax = ₹ 4500 - ₹ 3600 = ₹ 900.
Hence, the amount of tax under GST paid by shopkeeper to government = ₹ 900.
Answered By
32 Likes
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.
A retailer buys a T.V. from a manufacturer for ₹ 25000. He marks the price of the T.V. 20% above his cost price and sells it to a consumer at 10% discount on the, marked price. If the sales are inter-state and rate of GST is 12%, find :
(i) the marked price of the TV.
(ii) consumer's cost price of TV inclusive of tax under GST.
(iii) GST paid by the retailer to the Central and State Governments.
A dealer buys an article at a discount of 30% from the wholesaler, the marked price being ₹ 6,000. The dealer sells it to a consumer at a discount of 10% on the marked price. If the sales are intra-state and rate of GST is 5%, find :
(i) the total amount paid by the consumer for the article.
(ii) the tax under GST paid by the dealer to the state government.
(iii) the amount of tax under GST received by the central government.
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.