Mathematics
A shopkeeper buys a TV from a manufacturer at a discount of 20% of the listed price of ₹ 54,000 and sells it to a customer at the listed price. The sales are intra-state and the rate of GST is 18%.
Assertion (A): The tax (under GST) received by the State Government is ₹ 4,860.
Reason (R): For intra-state sales, GST is divided equally among State Government and the Central government.
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Both Assertion (A) and Reason (R) are correct, and Reason (R) is the correct reason for Assertion (A).
Both Assertion (A) and Reason (R) are correct, and Reason (R) is incorrect reason for Assertion (A).
GST
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Answer
Listed Price = ₹ 54,000
As the sales are intra-state and the rate of GST is 18%, so GST comprises of 9% as CGST and 9% as SGST.
So, reason (R) is true.
amount of GST collected by shopkeeper from consumer(or paid by consumer):
CGST = 9% of 54000 = x 54000 = 4860
SGST = 9% of 54000 = x 54000 = 4860
So, assertion (A) is true and reason (R) clearly explains assertion (A).
Thus, both Assertion (A) and Reason (R) are correct, and reason (R) is the correct reason for Assertion (A).
Hence, option 3 is the correct option.
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(i) the price inclusive of tax (under GST) at which the shopkeeper bought the machine.
(ii) the price which the consumer pays for the machine.
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(iv) the tax (under GST) paid by the shopkeeper to the State Government.
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A manufacturer listed the price of his goods at ₹1600 per article. He allowed a discount of 25% to a wholesaler who in turn allowed a discount of 20% on the listed price to a retailer. The retailer sells one article to a consumer at a discount of 5% on the listed price. If all the sales are intra-state and the rate of GST is 5%, find:
(i) the price per article inclusive of tax (under GST) which the wholesaler pays.
(ii) the price per article inclusive of tax (under GST) which the retailer pays.
(iii) the amount which the consumer pays for the article.
(iv) the tax (under GST) paid by the wholesaler to the State Government for the article.
(v) the tax (under GST) paid by the retailer to the Central Government for the article.
(vi) the tax (under GST) received by the State Government.