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A trader of Madhya Pradesh purchases goods worth ₹ 12,00,000 from a trader of Gwalior (M.P.) on which CGST rate is 12% and SGST rate is 6%. The trader sells 1/3 of the goods to a trader of Giijarat for ₹ 6,00,000 and charged IGST @ 15%. Remaining goods he sells to a trader of Gwalior (M.P.) for ₹ 12,00,000 on which 12% CGST and 6% SGST is payable. Calculate the tax payable. |
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Answer» (1) GST on account of purchase of the trader on the invoice of purchase will be as follows :
(2) The GST in the tax invoice of sales by the trader will be calculated as under :
(3) Trader tax liability under GST will be :
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