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GST | GST Exercise 1

Question 4

A dealer buys an article at a discount of 30% from the wholesaler, the marked

price being Rs 6000. The dealer sells it to a consumer at a discount of 10% on the

marked price. If the sales are intra-state and the rate of GST is 5%. Find:

(i) The 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.

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It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

Marked price of an article = ₹6000

Rate of GST = 5%

Rate of discount given by the wholesaler = 30%

CP of an article for dealer = Marked price – Discount

= ₹6000 – 30% of ₹6000

= ₹6000 – (30/100) × 6000

= ₹6000 – 1800

= ₹4200

Amount of GST paid by dealer to wholesaler,

CGST = SGST = 2.5% of ₹4200

= (2.5/100) × 4200 = ₹105

(i) The amount paid by the consumer for the article.

SP of an article for consumer = Marked price – Discount

= ₹6000 – 10% of ₹6000

= ₹6000 – (10/100) × 6000

= ₹6000 – 600

= ₹5400

Amount of GST paid by consumer to dealer,

CGST = SGST = 2.5% of ₹5400

= (2.5/100) × 5400

= ₹135

Amount paid by consumer for article = CP of article for consumer + CGST paid by

consumer + SGST paid by consumer = ₹5400 + ₹135 + ₹135 = ₹5670

(ii) The tax (under GST) paid by the dealer to the State Government.

₹135 - ₹105 = ₹30

(iii) The amount of tax (under GST) received by the Central Government.

CGST paid by wholesaler + CGST by dealer = ₹105 + ₹30 = ₹135

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Question 4

A dealer buys an article at a discount of 30% from the wholesaler, the marked

price being Rs 6000. The dealer sells it to a consumer at a discount of 10% on the

marked price. If the sales are intra-state and the rate of GST is 5%. Find:

(i) The 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.

Looking to do well in your science exam ? Learn from an expert tutor. Book a free class!

It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

Marked price of an article = ₹6000

Rate of GST = 5%

Rate of discount given by the wholesaler = 30%

CP of an article for dealer = Marked price – Discount

= ₹6000 – 30% of ₹6000

= ₹6000 – (30/100) × 6000

= ₹6000 – 1800

= ₹4200

Amount of GST paid by dealer to wholesaler,

CGST = SGST = 2.5% of ₹4200

= (2.5/100) × 4200 = ₹105

(i) The amount paid by the consumer for the article.

SP of an article for consumer = Marked price – Discount

= ₹6000 – 10% of ₹6000

= ₹6000 – (10/100) × 6000

= ₹6000 – 600

= ₹5400

Amount of GST paid by consumer to dealer,

CGST = SGST = 2.5% of ₹5400

= (2.5/100) × 5400

= ₹135

Amount paid by consumer for article = CP of article for consumer + CGST paid by

consumer + SGST paid by consumer = ₹5400 + ₹135 + ₹135 = ₹5670

(ii) The tax (under GST) paid by the dealer to the State Government.

₹135 - ₹105 = ₹30

(iii) The amount of tax (under GST) received by the Central Government.

CGST paid by wholesaler + CGST by dealer = ₹105 + ₹30 = ₹135

Our top 5% students will be awarded a special scholarship to Lido.

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