Advertisements
Advertisements
प्रश्न
In a particular tax period, a jewellery store purchased diamonds worth Rs 20,00,000 taxable at 15%, gold worth Rs 50,00,000 taxable at 12% and silver worth Rs 12,00,000 taxable at 8%. In the same period, the company sold diamonds worth Rs 34,00,000, gold jewellery worth Rs 86,00,000 and silver artifacts worth Rs 15,00,000. Calculate the tax liability of the company for this period.
उत्तर
For Diamonds:
Tax on purchase = 15 % of Rs 20,00,000
`= 15/100 xx "Rs" 2000000`
= Rs 300000
Tax on sale = 15 % of 34,00,000
`= 15/100 xx "Rs" 3400000`
= Rs 5,10, 000
Total tax= tax on sale - tax on purchase
= Rs (5,10,000 - 3,00,000) = Rs 2,10,000
For Gold:
Tax on purchase = 12 % of Rs 50,00,000
`= 12/100 xx "Rs" 5000000`
= Rs 600000
Tax on sale = 12 % of 86,00,000
`= 12/100 xx "Rs" 8600000`
= Rs 10,32,000
Total tax =tax on sale - tax on purchase
=Rs (10,32,000-6,00,000)
=Rs 4,32,000
For Silver:
Tax on purchase = 8 % of Rs 12,00,000
`= 8/100 xx "Rs" 1200000`
= Rs 96000
Tax on sale = 8 % of 15,00,000
`= 8/100 xx "Rs" 1500000`
= Rs 1, 20, 000
Total tax =tax on sale - tax on purchase
=Rs ( 1,20,000-96,000)
=Rs 24,000
Total tax liability of the company
=Tax on diamonds + tax on gold +tax on silver
= Rs (2,10,000 + 4,32,000 + 24,000)
= Rs 666000
Hence, Total tax liability of the company =Rs 666000
APPEARS IN
संबंधित प्रश्न
A manufacturer marks an article for Rs 10,000. He sells it to a wholesaler at 40% discount. The wholesaler sells this article to a retailer at a discount of 20% on the marked price. If the retailer sells the article to a customer at 10% discount and the rate of sales tax is 12% at each stage; find the amount of VAT paid by the (i) wholesaler (ii) retailer.
Tanya buys a leather coat costing Rs. 3,600, the rate of sales Tax being 10%. She asks the shopkeeper to reduce the price of the coat to such an extent that she does not have to pay anything more than Rs. 3,366 including sales tax. Calculate:
(i) The reduction needed in the cost price of the coat.
(ii) the reduction as percent.
Rakesh goes to a departmental store and purchases the following articles:
(i) biscuits and bakery products costing Rs 50, VAT @ 5%,
(ii) medicines costing Rs 90, VAT @ 10%,
(iii) clothes costing Rs 400, VAT @ 1%, and
(iv) cosmetics costing Rs 150, VAT @ 10%.
Calculate the total amount to be paid by Rakesh to the store.
The marked price and the rate of sales tax of different items are given below. Calculate the amount to be paid for each of them:
| S.No | Item | Maeked Price | Sales Tax |
| i | Walkman | Rs.1,750.00 | 8.5% |
| ii | Washing Machine | Rs.14,840.00 | 7.5% |
| iii | Computer | Rs.32,725.00 | 12% |
| iv | Sofa set | Rs.16,000.00 | 11.5% |
| v | T.V. | Rs.28,975.00 | 16% |
| vi | Jacket | Rs.1,260.00 | 10% |
| vii | Camera | Rs.4,500.00 | 9% |
| viii | Air conditioner | Rs.21,650.00 | 14% |
The total cost of a refrigerator including sales tax is Rs 30,940.If the rate of sales tax is 12%, find the basic price of the refrigerator.
Shalini bought an electric washing machine for Rs 24,556.50 which included 15% rebate on the basic price and then 7% sales tax on the remaining price. Find the basic price of the washing Machine.
Reduction of 5% on the sales tax of scooters reduced its selling price by Rs 2,200. Find the marked price of the scooter.
Waheeda bought an air cooler for ₹ 3300 including a tax of 10%. Find the price of the air cooler before VAT was added.
Harshna gave her car for service at service station on 27-05-2009 and was charged as follows:
3% cess on service Tax. Find the bill amount.
The following items are purchased from showroom:
T-Shirt worth Rs 1200.
Jeans worth Rs 1000.
2 Skirts worth Rs 1350 each.
What will these items cost to Shikha if the sales tax is 7%?
