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

1.	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.DealerGST collected on the saleGST paid at the time of purchaseITCTax paid to the Govt.Taxbalance with the GovtARs. 5000Rs. 6000Rs. 5000Rs. 0Rs. 1000BRs. 5000Rs. 4000Rs. 4000Rs. 1000Rs. 0CRs. 5000Rs. 5000Rs. 5000Rs. 0Rs. 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» (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

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.DealerGST collected on the saleGST paid at the time of purchaseITCTax paid to the Govt.Taxbalance with the GovtARs. 5000Rs. 6000Rs. 5000Rs. 0Rs. 1000BRs. 5000Rs. 4000Rs. 4000Rs. 1000Rs. 0CRs. 5000Rs. 5000Rs. 5000Rs. 0Rs. 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»

(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

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