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).
Related Questions
A dealer buys an article for ₹ 1,500. He sells it to a customer at 10% profit. The rate of GST is 18%.
Assertion (A) : The price which the customer pays for the article is ₹ 1,650 (excluding GST).
Reason (R) : GST is charged on the cost price of the article.
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).
A dealer in U.P. buys an article for ₹ 50,000 from a wholesaler in U.P.
Assertion (A): The above transaction is an intra-state transaction.
Reason (R): The sales between the same state are known as intra-state.
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).
A shopkeeper bought a washing machine at a discount of 20% from a wholesaler, the printed price of the washing machine being ₹18000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the sales are intra-state and the rate of GST is 12%, find:
(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.
(iii) the tax (under GST) paid by the wholesaler to the State Government.
(iv) the tax (under GST) paid by the shopkeeper to the State Government.
(v) the tax (under GST) received by the Central Government.
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.