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‘Tiptop Electronics’ supplied an AC of 1.5 ton to a company. Cost of the AC supplied is ₹ 51,200 (with GST). Rate of CGST on AC is 14%. Then find the following amounts as shown in the tax invoice of Tiptop Electronics.

(i) Rate of SGST
(ii) Rate of GST on AC
(iii) Taxable value of AC
(iv) Total amount of GST
(v) Amount of CGST
(vi) Amount of SGST

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Sol.
  (i)  We know that, rate of CGST and SGST is same for the product
∴     Rate of CGST on AC = Rate of SGST on AC = 14%


 (ii)  Rate of GST on AC
 =    14% CGST + 14%SGST
 =    28%

 (iii) Let taxable value of AC be ₹x
∴ Amount of GST = Cost of AC with
    GST – Taxable value of AC
    28% of taxable value = ₹(51200 – x)
∴          28% of x   =    51200 – x

∴               \(28\over 100\)* x   =   51200 – x

∴                 28x     =  100(51200 – x)
∴         28x + 100x = 5120000
                     128x = 5120000

                          \(x = {5120000\over 128}\)

∴                        x = 40,000
∴       Taxable value of AC = ₹40,000

 (iv)    Amount of GST= 51200 – x
 = 51200 – 40000
 = 11200
Amount of GST = ₹11,200


 (v) Amount of CGST = 14% of taxable value

    = \({14\over 100} × 40000 \)  = 5600

Amount of CGST = ₹5600


(vi) ∴ Amount of SGST = ₹5600

Financial Planning for Math I September 15 , 2018 0 Comments 128 views