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Amir Enterprise purchased chocolate sauce bottles and paid GST of ₹3800. He sold those bottles to Akbari Bros and collected GST of ₹ 4100. Mayank Food Corner purchased these bottles from Akabari Bros and paid GST of ₹ 4500. Find the amount of GST payable at every stage of trading and hence find payable CGST and SGST.

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Given : Trading Chain

To find :
(i) Amount of GST payable at every stage of trading.

(ii) Payable CGST and SGST.

Sol.
     (i)  For Amir Enterprise
          GST paid on purchase = input tax = ITC = ₹3800
          GST collected on sale = Output tax  =  ₹4100
∴        GST payable by Amir Enterprise      =  Output tax – ITC
                                                                    =  4100 – 3800
                                                                    =  ₹300
   (ii)  For Akbari Bros :
         GST paid on purchase = ITC = ₹4100
         GST paid on sale = Output tax  = ₹4500
∴       GST payable by Akbari Bros.    = Output tax – ITC
                                                            = 4500 – 4100
                                                            = ₹400
  (iii) We know that CGST and SGST is similar for the article and GST is divided into two
        equal parts as CGST and SGST
        Statement of GST payable at each stage of trading.

Financial Planning for Math I September 19 , 2018 0 Comments 217 views