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Question
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:
- Output and input taxes for the dealer Y.
- Net GST payable by dealer Y.
[The rate of GST at each stage is 28%].
Solution
For the dealer X (intra-state transaction),
S.P. = Rs. 50,000
For the dealer Y (intra-state transaction),
C.P. = Rs. 50,000
CGST = 14% of 50,000 = Rs. 7,000
SGST = 14% of 50,000 = Rs. 7,000
Input tax for dealer Y = Rs. 14,000
Profit = Rs. 20,000
S.P. = Rs. 70,000
For the dealer Z (inter-state transaction),
C.P. = Rs. 70,000
IGST = 28 % of Rs. 70,000
= `28/100 xx 70,000`
= Rs. 19,600
i. Output tax for dealer Y = Rs. 19,600
Input tax for dealer Y = Rs. 14,000
ii. Net GST payable by dealer Y
= Output tax for Y - Input tax for Y
= 19,600 - 14,000
= Rs. 5,600
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