Mathematics
Some goods/services are supplied for ₹ 20,000 from Mathura (U.P.) to Ratlam (M.P.) and then from Ratlam to Indore (M.P.). If at each stage, the rate of tax under G.S.T. system is 12% and the profit made by the dealer in Ratlam is ₹ 3,750; find the cost of the article (in Indore) under GST.
GST
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Answer
S.P. in Mathura = ₹ 20,000
GST = IGST = 12% of ₹ 20,000 = = ₹ 2400 (Inter state transaction)
GST charged by the dealer in Mathura = Input GST for the dealer in Ratlam = ₹ 2400.
S.P. in Ratlam = ₹ 20000 + ₹ 3750 = ₹ 23750.
GST charged by the dealer in Ratlam = CGST + SGST (Intra-state transaction)
CGST = 6% of ₹ 23750 = = ₹ 1425
SGST = CGST = ₹ 1425
GST = CGST + SGST = ₹ 1425 + ₹ 1425 = ₹ 2850
Cost of the article in Indore = S.P. for dealer in Ratlam + GST
= ₹ 23750 + ₹ 2850
= ₹ 26600.
Hence, cost of article in Indore = ₹ 26600.
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