Mathematics
In a GST chain, a dealer Mr. Shah purchases an article for ₹ 50,000 and supplies it to another dealer Mr. Paresh at a profit of ₹ 6,000. Mr. Paresh sells it to a consumer Mrs. Gupta at a profit of ₹ 4,000. If the rate of GST is 18% and if all transactions were intrastate, calculate
(i) ITC for Mr. Shah
(ii) Input Tax payable by Mr. Paresh
(iii) Total cost price of the article for Mrs. Gupta
(iv) Output GST for Mrs. Gupta
Related Questions
A dealer in Delhi supplied several items to another dealer in Delhi and these items fall into different GST slabs. Find the total amount of bill if the details of the supplied items are as given below:
Item Quantity (No. of pieces) Rate per piece MRP (in ₹) Discount Allowed GST Rate A 40 100 15% 8% B 50 80 20% 12% C 150 40 10% 18% D 160 50 5% 5% A cycle manufacturer in Ghaziabad (UP) sold a cycle to a dealer in Agra (UP) for ₹ 16,000. This cycle was then sold to a dealer in Ujjain (M.P) for ₹ 17,500. If the GST rate for cycle is 12%, calculate
(i) the net GST payable at Agra
(ii) Input Tax Credit for the dealer in Ujjain
A registered dealer M/s Aniket and Sons Ltd. purchased goods for ₹ 24,00,000 and sold them for ₹ 27,50,000, within the state. If the GST rate is 18%, find the net CGST and SGST payable by the dealer.
Mr. Batra, a registered dealer in Hisar (Haryana) purchased blankets worth ₹ 2,00,000. He sold 50% of these blankets to a dealer in Panipat (Haryana) for ₹ 1,30,000 and the rest of the goods remain in his stock. If the GST rate is 5%, find the excess credit of CGST and SGST to be carried forward.