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Please answer question 14 of ICSE 10 Exercise 1(B): A dealer buys an article at a discount of 30% from the wholesaler, the marked price being rs 6000.
Asked by sagarmishra | 24 May, 2023, 12:43: PM

Marked price of an article = Rs. 6000

For the dealer:

Discount = 30%

C.P. = M.P. – 30% of M.P. = Rs. 4200

(i)

For the consumer:

M.P. = Rs. 6,000

Discount = 10%

C.P. = M.P. – 10% of M.P. = Rs. 5400

GST paid by the consumer = 5% of 5400 = Rs. 270

∴ The total amount paid by the consumer for the article = 5400 + 270 = Rs. 5670

(ii)

For the dealer:

Input tax = tax on purchase = 5% of 4200 = Rs. 210

Output tax = GST paid by consumer = Rs. 270

Tax under GST paid by the dealer to the central and state governments

= Output tax – Input tax

= Rs. (270 – 210)

= Rs. 60

So, tax under GST paid by the dealer to the state government is Rs. 30.

(iii)

GST received by the state and central governments = GST paid by the consumer

= Rs. 270

∴ Amount of tax under GST received by the central government is Rs. 135.
Answered by Rashmi Khot | 25 May, 2023, 09:56: AM

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