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 Stale Government. (iii) The amount of tax (under CST) received by the Central Government. - Noon Academy

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

Class 10 | Exercise 1 | Goods and Service Tax | ICSE | Maths | ML Aggarwal

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

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

$SGST\text{ }=\text{ }CGST\text{ }=\text{ }{\scriptscriptstyle 1\!/\!{ }_2}\text{ }GST$

According to ques,:

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

CP of an article for shopkeeper

$=\text{ }Rs.\text{ }12000$

Marked price of article

$=\text{ }Rs.\text{ }12000\text{ }+\text{ }25%\text{ }of\text{ }Rs.\text{ }12000$

$=\text{ }Rs.\text{ }12000\text{ }+\text{ }\left( 25/100 \right)\text{ }\times \text{ }12000$

or,

$=\text{ }Rs.\text{ }15000$

Amount of discount given by shopkeeper

$=\text{ }10%\text{ }of\text{ }Rs.\text{ }15000$

$=\text{ }\left( 10/100 \right)\text{ }\times \text{ }15000$

or,

$=\text{ }Rs.\text{ }1500$

Again, shopkeeper gives off season discount of 5% on the balance

$=\text{ }5%\text{ }of\text{ }\left( 15000\text{ }\text{ }1500 \right)$

$=\text{ }\left( 5/100 \right)\text{ }\times \text{ }13500$

or,

$=\text{ }Rs.\text{ }675$

CP of TV for consumer

$=\text{ }Rs.\text{ }13500\text{ }\text{ }Rs.\text{ }675$

$=\text{ }Rs.\text{ }12825$

Amount of GST paid by consumer

$=\text{ }12%\text{ }of\text{ }Rs.\text{ }12825$

$=\text{ }\left( 12/100 \right)\text{ }\times \text{ }12825$

or,

$=\text{ }Rs.\text{ }1539$

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

$=\text{ }Rs.\text{ }12825\text{ }+\text{ }Rs.\text{ }1539\text{ }=\text{ }Rs.\text{ }14364$

(ii) The amount of tax (under GST) paid by the shopkeeper to the Stale Government.

$CGST\text{ }=\text{ }SGST\text{ }=\text{ }6%\text{ }of\text{ }Rs.\text{ }12000$

$=\text{ }\left( 6/100 \right)\text{ }\times \text{ }12000$

$=\text{ }Rs.\text{ }720$

GST paid by consumer to shopkeeper,

$CGST\text{ }=\text{ }SGST\text{ }=\text{ }6%\text{ }of\text{ }Rs.\text{ }12825$

$=\text{ }\left( 6/100 \right)\text{ }\times \text{ }12825$

$=\text{ }Rs.\text{ }769.50$

The amount of tax (under GST) paid by the shopkeeper to the Stale Government

$=Rs.\text{ }769.50\text{ }\text{ }Rs.\text{ }720$

$=\text{ }Rs.\text{ }49.50$

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

CGST paid by manufacturer

$~=\text{ }Rs.\text{ }720$

CGST paid by shopkeeper

$=\text{ }Rs.\text{ }769.50\text{ }\text{ }Rs.\text{ }720\text{ }=\text{ }Rs.\text{ }49.50$

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

$=Rs.\text{ }720\text{ }+\text{ }Rs.\text{ }49.50$

$=\text{ }Rs.\text{ }769.50$

i

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