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Question
Renna buys certain goods for ₹ 4,000 and sells them to Ashok at a profit of ₹ 500. If Ashok does not sells the goods further and rate of GST = 5%, the output GST for Ashok is ______.
Options
₹ 225
₹ 175
₹ 25
₹ 00
Solution
Renna buys certain goods for ₹ 4,000 and sells them to Ashok at a profit of ₹ 500. If Ashok does not sells the goods further and rate of GST = 5%, the output GST for Ashok is ₹ 25.
Explanation:
Cost price of certain goods for Renna = ₹ 4000
Profit = ₹ 500
Input GST = 5% of ₹ 4000
= `₹(5/100 xx 4000)`
= ₹ 200
Selling price of certain goods by Renna to Ashok = C.P + Profit
= ₹ 4000 + ₹ 500
= ₹ 4500
Rate of GST = 5%
∴ Output GST = 5% of ₹ 4500
= `(5/100 xx 4500)`
= ₹ 225
∴ Output GST Ashok = Output GST – Input GST
= ₹ 225 – ₹ 200
= ₹ 25
RELATED QUESTIONS
For the following transaction from Delhi to Jaipur, fill in the blanks to find the amount of bill:
MRP = Rs. 50,000
Discount % = 20%
GST = 28%
Discount = ______
Selling price (discounted value) = ______
CGST = ______
SGST = ______
IGST = ______
Amount of bill = ______
Find the amount of bill for the following inter-state transaction of goods/services. The GST rate is 18%.
| Quantity (no. of items) | 35 | 47 | 20 |
| MRP of each item (in Rs.) | 420 | 600 | 350 |
| Discount % | 10 | 10 | 20 |
Find the amount of bill for the following intra-state transaction of goods/services.
| MRP (in Rs.) | 12,000 | 15,000 | 9,500 | 18,000 |
| Discount % | 30 | 20 | 30 | 40 |
| CGST % | 6 | 9 | 14 | 2.5 |
M/s Ram Traders, Delhi, provided the following services to M/s Geeta Trading Company in Agra (UP). Find the amount of bill:
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| Cost of each service (in ₹) | 680 | 320 | 260 | 420 |
| GST % | 5 | 12 | 18 | 12 |
For the following, find the amount of bill data :
|
Rate per piece (in Rs.) |
Number of pieces |
Discount % |
GST% |
|
18 |
360 |
10 |
12 |
|
12 |
480 |
20 |
18 |
|
12 |
120 |
5 |
12 |
|
28 |
150 |
20 |
28 |
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- the net GST payable by the dealer at Kanpur.
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A is a manufacturer of T.V. sets in Delhi. He manufacturers a particular brand of T.V. set and marks it at Rs. 75,000. He then sells this T.V. set to a wholesaler B in Punjab at a discount of 30%. The wholesaler B raises the marked price of the T.V. set bought by 30% and then sells it to dealer C in Delhi. If the rate of GST = 5% find tax (under GST) paid by wholesaler B to the government.
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