Q6 of 55 Page 87

‘Tiptop Electronics’ supplied an AC of 1.5 ton to a company. Cost of the AC supplied is Rs. 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.

(1) Rate of SGST


(2) Rate of GST on AC


(3) Taxable value of AC


(4) Total amount of GST


(5) Amount of CGST


(6) Amount of SGST

Given rate of CGST of AC = 14%


(1) We know that CGST and SGST are components of GST.


CGST is always equal to SGST.


∴ SGST = 14%


(2) We know that GST = CGST + SGST.


GST = 14% + 14% = 28%


(3) We know that Total Value (with GST) = Taxable Value + GST


Given total value (with GST) = Rs. 51, 200


Let taxable value = x


∴ 51200 = x + 28% of x


=


= x + 0.28x


⇒ 51200 = 1.28x


⇒ x = = 40000


∴ x = Taxable Value = Rs. 40, 000


(4) We know that total GST = GST of Taxable value


∴ GST = 28% of 40, 000


=


= Rs. 11, 200


(5) We know that CGST and SGST are components of GST.


CGST is always equal to SGST


i.e. GST = CGST + SGST


Let CGST and SGST be x.


Then GST = x + x


⇒ 11200 = 2x


⇒ x = 5600


Hence CGST = Rs. 5600


(6) ∴ SGST = Rs. 5600


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