The printed price of an article is Rs 50000. The wholesaler allows a discount of 10% to a shopkeeper. The shopkeeper sells the article to a consumer at 4% above the marked price. If the sales are intra-state and the rate of GST is 18%, find: (i) The amount inclusive of tax (under GST) which the shopkeeper pays for the articles. (ii) The amount paid by the consumer for the article. (iii) The amount of tax (under GST) paid by the shopkeeper to the Central Government. (iv) The amount of tax (under GST) received by the State Government. - Noon Academy

The printed price of an article is Rs 50000. The wholesaler allows a discount of 10% to a shopkeeper. The shopkeeper sells the article to a consumer at 4% above the marked price. If the sales are intra-state and the rate of GST is 18%, find: (i) The amount inclusive of tax (under GST) which the shopkeeper pays for the articles. (ii) The amount paid by the consumer for the article. (iii) The amount of tax (under GST) paid by the shopkeeper to the Central Government. (iv) The amount of tax (under GST) received by the State Government.

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

The printed price of an article is Rs 50000. The wholesaler allows a discount of 10% to a shopkeeper. The shopkeeper sells the article to a consumer at 4% above the marked price. If the sales are intra-state and the rate of GST is 18%, find: (i) The amount inclusive of tax (under GST) which the shopkeeper pays for the articles. (ii) The amount paid by the consumer for the article. (iii) The amount of tax (under GST) paid by the shopkeeper 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.

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

According to ques,:

Marked price of an article

$=\text{ }Rs.\text{ }50000$

Rate of GST

$~=\text{ }18%$

(i) The amount inclusive of tax which the shopkeeper pays for the articles.

Rate of discount given by the wholesaler,

$=\text{ }10%$

CP of an article for shopkeeper

$=\text{ }Marked\text{ }price\text{ }\text{ }Discount$

$=\text{ }Rs.\text{ }50000\text{ }\text{ }10%\text{ }of\text{ }Rs.\text{ }50000$

or,

$=\text{ }Rs.\text{ }50000\text{ }\text{ }\left( 10/100 \right)\text{ }\times \text{ }50000$

$=\text{ }Rs.\text{ }50000\text{ }\text{ }5000$

or,

$=\text{ }Rs.\text{ }45000$

Amount of GST paid by dealer to wholesaler,

CGST = SGST

$=\text{ }9%\text{ }of\text{ }Rs.\text{ }45000$

$=\text{ }\left( 9/100 \right)\text{ }\times \text{ }45000$

or,

$=\text{ }Rs.\text{ }4050$

Amount paid by shopkeeper for an article

= CP of an article for shopkeeper + CGST paid by consumer

+ SGST paid by consumer

$=\text{ }Rs.\text{ }45000\text{ }+\text{ }Rs.\text{ }4050\text{ }+\text{ }Rs.\text{ }4050$

$=\text{ }Rs.\text{ }53100$

(ii) The amount paid by the consumer for the article.

now,

SP of an article for consumer

= Marked price – Discount

$=\text{ }Rs.\text{ }50000\text{ }\text{ }4%\text{ }of\text{ }Rs.\text{ }50000$

$=\text{ }Rs.\text{ }50000\text{ }\text{ }\left( 4/100 \right)\text{ }\times \text{ }50000$

or,

$=\text{ }Rs.\text{ }50000\text{ }\text{ }2000$

$=\text{ }Rs.\text{ }48000$

Amount of GST paid by consumer to dealer,

CGST = SGST

$=\text{ }9%\text{ }of\text{ }Rs.\text{ }48000$

$=\text{ }\left( 9/100 \right)\text{ }\times \text{ }48000$

or,

$=\text{ }Rs.\text{ }4320$

Amount paid by consumer for articleis,

= CP of article for consumer + CGST paid by consumer + SGST paid by consumer

$=\text{ }Rs.\text{ }48000\text{ }+\text{ }Rs.\text{ }4320\text{ }+\text{ }Rs.\text{ }4320$

$=\text{ }Rs.\text{ }56640$

(iii) The amount of tax (under GST) paid by the shopkeeper to the Central Government is,

$Rs.\text{ }4320\text{ }\text{ }Rs.\text{ }4050\text{ }=\text{ }Rs.\text{ }270$

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

SGST paid by wholesaler + SGST paid by shopkeeper

$=\text{ }Rs.\text{ }4050\text{ }+\text{ }Rs.\text{ }270\text{ }=\text{ }Rs.\text{ }4320$

i

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