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A dealer X in Hapur (U.P.) supplies goods/services, worth Rs. 50,000 to some other dealer Y in the same city. Now the dealer Y supplies the same goods/services to dealer Z in Calcutta at a profit of Rs. 20,000. Find: (i) Output and input taxes for the dealer Y (ii) Net GST payable by dealer Y. [The rate of GST at each stage is 28%]
A dealer X in Hapur (U.P.) supplies goods/services, worth Rs. 50,000 to some other dealer Y in the same city. Now the dealer Y supplies the same goods/services to dealer Z in Calcutta at a profit of Rs. 20,000. Find: (i) Output and input taxes for the dealer Y (ii) Net GST payable by dealer Y. [The rate of GST at each stage is 28%]
Class 10 | Exercise 1(B) | Gst Goods And Services Tax | ICSE | Maths | Selina
A dealer X in Hapur (U.P.) supplies goods/services, worth Rs. 50,000 to some other dealer Y in the same city. Now the dealer Y supplies the same goods/services to dealer Z in Calcutta at a profit of Rs. 20,000. Find: (i) Output and input taxes for the dealer Y (ii) Net GST payable by dealer Y. [The rate of GST at each stage is 28%]

From the inquiry, we have

For the vendor \[X\](intra-state exchange)

The \[SP\text{ }=\text{ }Rs.\text{ }50,000\]

For the vendor \[Y\](intra-state exchange)

\[\begin{array}{*{35}{l}}

CP\text{ }=\text{ }Rs.\text{ }50,000  \\

CGST\text{ }=\text{ }14percent\text{ }of\text{ }50,000\text{ }=\text{ }Rs.\text{ }7,000  \\

SGST\text{ }=\text{ }14percent\text{ }of\text{ }50,000\text{ }=\text{ }Rs.\text{ }7,000  \\

\end{array}\]

In this way, the information charge for seller \[Y\text{ }=\text{ }Rs.\text{ }14,000\]

\[\begin{array}{*{35}{l}}

Benefit\text{ }=\text{ }Rs.\text{ }20,000  \\

SP\text{ }=\text{ }Rs.\text{ }70,000  \\

\end{array}\]

For the vendor Z (between state exchange)

\[\begin{array}{*{35}{l}}

CP\text{ }=\text{ }Rs.\text{ }70,000  \\

IGST\text{ }=\text{ }28\text{ }%\text{ }of\text{ }Rs.\text{ }70,000\text{ }=\text{ }28/100\text{ }x\text{ }70,000\text{ }=\text{ }Rs.\text{ }19,600  \\

\end{array}\]

Hence, the information charge \[=\text{ }Rs.\text{ }19,600\]which turns into the yield charge for vendor \[Y.\]

Presently,

The net GST payable for \[Y\]will be

\[\begin{array}{*{35}{l}}

=\text{ }Output\text{ }charge\text{ }for\text{ }Y\text{ }-\text{ }Input\text{ }charge\text{ }for\text{ }Y  \\

=\text{ }19,600\text{ }-\text{ }14,000  \\

=\text{ }Rs.\text{ }5600  \\

\end{array}\]

i

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