A retailer buys a TV from a wholesaler for Rs 40000. He marks the price of the T.V. 15% above his cost price and sells it to a consumer at 5% discount on the marked price. If the sales are intra-state and the rate of GST is 12%, find: (i) The marked price of the TV. (ii) The amount which the consumer pays for the TV. (iii) The amount of tax (under GST) paid by the retailer to the Central Government. (iv) The amount of tax (under GST) received by the State Government.
A retailer buys a TV from a wholesaler for Rs 40000. He marks the price of the T.V. 15% above his cost price and sells it to a consumer at 5% discount on the marked price. If the sales are intra-state and the rate of GST is 12%, find: (i) The marked price of the TV. (ii) The amount which the consumer pays for the TV. (iii) The amount of tax (under GST) paid by the retailer to the Central Government. (iv) The amount of tax (under GST) received by the State Government.

It is a case of intra-state transaction of goods and services.

hence,

According to ques,:

(i) The marked price of the TV.

now,

It is given that, CP of TV for retailer is

Marked price of TV is

or,

(ii) The amount which the consumer pays for the TV.

since,

Discount given by retailer is

or,

Amount paid by consumer without GST for TV is

Rate of GST = 12%

Amount of GST paid by consumer

or,

Amount which consumer pays for TV

(iii) The amount of tax (under GST) paid by the retailer to the Central Government.

now,

CGST paid by shopkeeper that is

or,

or,

and

SGST paid by shopkeeper that is

Shopkeeper sells the article to consumer that is

GST collected by shopkeeper

or,

CGST of shopkeeper that is = SGST

or,

The amount of tax (under GST) paid by the retailer to the Central Government which is

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

SGST paid by wholesaler + SGST paid by shopkeeper

that is,