Q4 of 55 Page 93

Malik Gas Agency (Chandigarh Union Territory) purchased some gas cylinders for industrial use for Rs. 24,500, and sold them to the local customers for Rs. 26,500. Find the GST to be paid at the rate of 5% and hence the CGST and UTGST to be paid for this transaction. (for Union Territories there is UTGST instead of SGST.)

Input Tax = 5% of 24,500


= Rs. 1225


Output Tax = 5% of 26, 500


= Rs. 1325


We know that GST Payable = Output Tax – ITC


∴ GST Payable = 1325 – 1225


= Rs. 100


We know that CGST and SGST are components of GST.


CGST is always equal to SGST


i.e. GST = CGST + UTGST


Let CGST and UTGST be x.


Then GST = x + x


⇒ 100 = 2x


⇒ x = 50


∴ CGST, UTGST = Rs. 50


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Particulars –


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