A shopkeeper buys an article from a manufacturer for Rs 12000 and marks up it price by 25 The shopke...

Question

A shopkeeper buys an article from a manufacturer for Rs 12000 and marks up it

price by 25%. The shopkeeper gives a discount of 10% on the marked up price and

he gives a further off-season discount of 5% or, the balance to a customer of TV. If

the sales are intra-state and the rate of CST is 12%, find:

(i) The price inclusive of tax (under GST) which the consumer pays for the TV.

(ii) The amount of tax (under GST) paid by the shopkeeper to the State

Government.

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

Accepted Answer

It is a case of intrastate transaction of goods and services SGST CGST GST Given i The price inclusive of tax under GST which the consumer pays for the TV CP of an article for shopkeeper 12000 Marked price of article 12000 25 of 12000 12000 25100 12000 15000 Amount of discount given by shopkeeper 10 of 15000 10100 15000 1500 Again shopkeeper gives off season discount of 5 on the balance 5 of 15000 1500 5100 13500 675 CP of TV for consumer 13500 675 12825 Amount of GST paid by consumer 12 of 12825 12100 12825 1539 The price inclusive of tax under GST which the consumer pays for the TV 12825 1539 14364 ii The amount of tax under GST paid by the shopkeeper to the Stale Government CGST SGST 6 of 12000 6100 12000 720 GST paid by consumer to shopkeeper CGST SGST 6 of 12825 6100 12825 76950 The amount of tax under GST paid by the shopkeeper to the Stale Government 76950 720 4950 iii The amount of tax under CST received by the Central Government CGST paid by manufacturer 720 CGST paid by shopkeeper 76950 720 4950 The amount of tax under CST received by the Central Government 720 4950 76950

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