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प्रश्न
In the tax period ended March 2015, M/S Hari Singh & Sons purchased floor tiles worth ₹ 800000 taxable at 7.5% and sanitary fittings worth ₹ 750000 taxable at 10%. During this period, the sales turnover for floor tiles and sanitary fittings is worth ₹ 840000 and ₹ 920000 respectively. However, the floor tiles worth ₹ 60000 were returned by the firm during the same period. Calculate the tax liability (under VAT) of the firm for this tax period.
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उत्तर
Cost of floor tiles = ₹ 800000
Rate of tax = 7.5%
= `(15)/(2)%`
∴ VAT
= `(800000 xx 15)/(100 xx 2)`
= ₹60000
Cost of sanitary fittings = ₹750000
Rate of VAT = 10%
Total VAT
= ₹`750000 xx (10)/(100)` = ₹75000
∴ Total input
= ₹60000 + ₹75000
= ₹135000
On the sale of floor tiles for = ₹840000
Rate of VAT = `(15)/(2)%`
Total VAT
= `840000 xx (15)/(100 xx 2)`
= ₹63000
and on sale of sanitary fittings = ₹920000
Rate of VAT = 10%
∴ Total VAT
= `₹920000 xx (10)/(100)` = ₹92000
Total input tax
= ₹63000 + ₹92000
= ₹155000
Return of floor tiles worth
=₹60000
Liability of tax of the firm
= 155000 – (135000 + 4500)
= ₹155000 – ₹139500
= ₹15500.
संबंधित प्रश्न
A shopkeeper bought a washing machine at a discount of 20% from a wholesaler, the printed price of the washing machine being Rs. 18,000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the rate of sales tax is 8%, find:
(i) the VAT paid by the shopkeeper.
(ii) the total amount that the consumer pays for the washing machine
The price of a washing machine, inclusive of sales tax is Rs 13,530/-. If the sales tax is 10%, find its basic cost price.
Q
[missing]
A wrist-watch is available at a discount of 9%. If the list-price of the watch is Rs. 1,400; find the discount is given and the selling price of the watch.
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(i) the VAT paid by the shopkeeper.
(ii) the total amount that the consumer pays for the washing machine.
A shopkeeper buys a camera at a discount of 20% from the wholesaler, the printed price of the camera being ₹ 1600 and the rate of sales tax is 6%. The shopkeeper sells it to the buyer at the printed price and charges sales tax at the same rate. Find
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(ii) the VAT (Value Added Tax) paid by the shopkeeper.
A manufacturer listed the price of his goods at ₹ 160 per article. He allowed a discount of 25% to a wholesaler who in his turn allowed a discount of 20% on the listed price to a retailer. The rate of sales tax on the goods is 10%. If the retailer sells one article to a consumer at a discount of 5% on the listed price, then find
(i) the VAT paid by the wholesaler.
(ii) the VAT paid by the retailer.
(iii) the VAT received by the Government.
The marked price of an article is ₹7500. A shopkeeper sells the article to a consumer at the marked prices and charges sales tax at . the rate of 7%. If the shopkeeper pays a VAT of ₹105, find the price inclusive of sales tax of the article which the shopkeeper paid to the wholesaler.
A shopkeeper buys an article at a discount of 30% and pays sales tax at the rate of 6%. The shopkeeper sells the article to a consumer at 10% discount on the list price and charges sales tax at the’ same rate. If the list price of the article is ₹3000, find the price inclusive of sales tax paid by the shopkeeper.
