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For the given trading chain, the rate of...

For the given trading chain, the rate of GST is 12% for the article . Observe the information given and answer the questions

(i) Input tax for the distribution (ii) Output tax for the retailer
(iii) Purchase price for the consumer.

Text Solution

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The correct Answer is:
(i) Input tax of for the distributor Rupees 960
(ii) Output tax by the retailer Rupees 1296.
(iii) The purchase price for the customer Rupees 12096.
The rate of GST is 12%
(i) The distributor purchased the article from the manufacturer for Rupees 8000.
The tax to be paid by the distributor =the taxable value `xx` the rate of GST ` = Rupees 8000 xx ( 12)/( 100) = Rupees 960`
`:.` the input tax for the distributor is Rupees 960 .
(ii) The retailer sold the article of taxable value of Rupees 10800
`:.` output tax by the retailor = taxable value `xx` the rate of GST
`= Rupees 10800 xx (12)/( 100) = Rupees 1296`
(iii) The purchase price for the customer = taxable value `+` GST
`= Rupees ( 10800 + 1296)`
`= Rupees 12096`
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