(i) How much amount did the dealer A get by sale ? (ii) For how much amount did the dealer B buy the articles ?

Question

There are three dealers A, B and C in Maharashtra.

Suppose, the trade of each of them in september 2018 was as shown in the following table.

The rate of GST on each transaction was 5%.

Read the table and answer the questions below it.

| Dealer | GST collected on the sale | GST paid at the time of purchase | ITC | Tax paid to the Govt. | Taxbalance with the Govt |
| A | Rs. 5000 | Rs. 6000 | Rs. 5000 | Rs. 0 | Rs. 1000 |
| B | Rs. 5000 | Rs. 4000 | Rs. 4000 | Rs. 1000 | Rs. 0 |
| C | Rs. 5000 | Rs. 5000 | Rs. 5000 | Rs. 0 | Rs. 0 |

(i) How much amount did the dealer A get by sale ? (ii) For how much amount did the dealer B buy the articles ? (iii) How much is the balance of CGST and SGST left with the government that was paid by A ?

Answer 1

(i) The sale of dealer A = 100 / 5 × 5000 = 1,00,000 rupees

(ii) The purchase of dealer B = 100 / 5 × 4000 = 80,000 rupees

(iii)∴ Balance of CGST paid by A = 1000 / 2 = Rs. 500 and SGST = Rs. 500