The printed price of an article is Rs 50000 The wholesaler allows a discount of 10 to a shopkeeper T...

Question

The printed price of an article is Rs 50000. The wholesaler allows a discount of

10% to a shopkeeper. The shopkeeper sells the article to a consumer at 4% above

the marked price. If the sales are intra-state and the rate of GST is 18%, find:

(i) The amount inclusive of tax (under GST) which the shopkeeper pays for the

articles.

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

(iii) The amount of tax (under GST) paid by the shopkeeper to the Central

Government.

(iv) The amount of tax (under GST) received by the State Government.

Accepted Answer

It is a case of intrastate transaction of goods and services SGST CGST GST Given Marked price of an article 50000 Rate of GST 18 i The amount inclusive of tax under GST which the shopkeeper pays for the articles Rate of discount given by the wholesaler 10 CP of an article for shopkeeper Marked price Discount 50000 10 of 50000 50000 10100 50000 50000 5000 45000 Amount of GST paid by dealer to wholesaler CGST SGST 9 of 45000 9100 45000 4050 Amount paid by shopkeeper for an article CP of an article for shopkeeper CGST paid by consumer SGST paid by consumer 45000 4050 4050 53100 ii The amount paid by the consumer for the article SP of an article for consumer Marked price Discount 50000 4 of 50000 50000 4100 50000 50000 2000 48000 Amount of GST paid by consumer to dealer CGST SGST 9 of 48000 9100 48000 4320 Amount paid by consumer for article CP of article for consumer CGST paid by consumer SGST paid by consumer 48000 4320 4320 56640 iii The amount of tax under GST paid by the shopkeeper to the Central Government 4320 4050 270 iv The amount of tax under GST received by the State Government SGST paid by wholesaler SGST paid by shopkeeper 4050 270 4320

ML Aggarwal Solutions Class 10 Mathematics Solutions for GST Exercise 1 in Chapter 1 - GST