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Goods/Services Are Sold from Agra (U.P.) to Kanpur (U.P.) For Rs. 20,000 and Then from Kanpur to Jaipur (Rajasthan). If the Rate of Gst is 18% and the Profit Made at Kanpur Is Rs. 5000, Find: - Mathematics

Sum

Goods/services are sold from Agra (U.P.) to Kanpur (U.P.) for Rs. 20,000 and then from Kanpur to Jaipur (Rajasthan). If the rate of GST is 18% and the profit made at Kanpur is Rs. 5000, find:

  1. the net GST payable by the dealer at Kanpur.
  2. thecost of goods/services at Jaipur.
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Solution

When the product is sold from Agra to Kanpur (intra-state transaction)

For the dealer in Agra :

  1. P. in Agra =Rs. 20,000

CGST = 9% of Rs. 20,000 = `19/100 xx 20,00 = 1800`

SGST = 9% of Rs. 20,000 = `9/100 xx 20,00 = 1800`

When product is sold from Kanpur to Jaipur (inter-state transaction)

For the dealer in Kanpur

Input-tax credit = 1800 + 1800 = Rs. 3600

  1. P. =Rs. 20,000 and Profit =Rs. 5000

S.P. = 20,000 + 5000 = Rs. 25,000

IGST = 18% of 25,000 = Rs. 4500

  1. Net GST paid by the dealer at Kanpur
    = Output GST - Input GST
    = 4500 - 3600
    = Rs. 900
  2. The cost of goods/services at Jaipur
    = S. P. in Agra + IGST
    = 25,000 + 18% of 25000
    = 25,000 + 4500
    = Rs. 29,500 
Concept: Gst Tax Calculation
  Is there an error in this question or solution?
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APPEARS IN

Selina Concise Maths Class 10 ICSE
Chapter 1 GST (Goods And Service Tax)
Exercise 1 (B) | Q 2 | Page 17
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