Laxmi Electronics sold printer, costing Rs. 8260 (with GST), to a customer for Rs. 10,030 (with GST). The rate of GST is 18%. Find the taxable value of the printer in each case and the amount of CGST and SGST to be paid by Laxmi Electronics.

Explanation

Let the purchase price of the printer be Rs. `x`
GST 18% `:.GST=x xx 18/100=Rs. (18x)/100`
`:.` purchase price with GST `=Rs. (x+(18x)/100)=Rs. (118x)/100`
The price of printer with GST is Rs. 8260 ……….(Given)
`:.(118x)/100=8260`
`:.x=8260xx100/116=70xx100=Rs. 7000` ..........(Taxable value)
Input tax credit by Laxmi Electronics `=Rs. (8260-7000)`
`=Rs. 1260`.......1
Let the selling price of the printer be Rs. `y`
GST 18% `:.GST=yxx18/100=Rs. (18y)/100`
`:.` selling price with GST `=Rs. (y+(18y)100)=Rs. (118y)/100`
The selling price of printer isRs. 10,030 with GST ............(Given)
`:.(118y)/100=10030 :.y=10030xx100/118`
`:.y=85xx100=Rs. 8500` (Taxable value)
`:.` GST collected at selling `=Rs. (10030-8500)=Rs. 1530`..........2
Output tax by Laxmi Electronics `=Rs. 1530`
`:.` GST payable `=` Output tax `-` ITC
`=RLs. (1530-1260)`............[From 2 and 1]
`=Rs. 270`
Now CGST `=SGST =1/2xxGST=1/2xx270=Rs. 135`
Ans. The taxable value of printer in each case is Rs. 7000 and Rs. 8500.
CGST `=` SGST `=`Rs. 135 to be paid by Laxmi Electronics.