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Question
A manufacturing company sells a T.V. to a trader A for ₹ 18000. Trader A sells it to a trader B at a point of ₹ 750 and trader B sells it to a consumer at a profit of ₹ 900. If the rate of sales tax (under VAT) is 10%, find
(i) the amount of tax received by the Government.
(ii) the amount paid by the consumer for the T.V.
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Solution
The sale price of a T.V. to trader A = ₹ 18000
Rate of VAT tax = 10%
∴ Amount of VAT
= `18000 xx 10/100 = ₹1800`
The gain of A = ₹750
∴ VAT on gain
= ₹`(750 xx 10)/100 = ₹75`
Gain of trader B = ₹900
VAT tax paid
= `(900 xx 10)/100 = ₹90`
(i) Total tax paid to Govt.
= ₹ (I800 + 75 + 90)
= ₹ 1965
(ii) Amount paid by the consumer to trader B
= ₹ 18000 + 750 + 900 + Tax 1965
= ₹ 21615.
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