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UP TGT Mathematics commercial mathematics Test Series - Part 1

A dealer in Mumbai buys goods worth Rs. 40,000 from a supplier in Gujarat at 18% IGST. He sells the goods to a retailer...

Type: MCQ • Marks: 1
A dealer in Mumbai buys goods worth Rs. 40,000 from a supplier in Gujarat at 18% IGST. He sells the goods to a retailer in Nagpur (Maharashtra) at a profit of 15% with 18% intra-state GST (CGST + SGST). Find the net tax payable by the dealer.
Options
A. 1) Rs. 1,350
B. 2) Rs. 1,200
C. 3) Rs. 1,500
D. 4) Rs. 1,080
Explanation
Input Tax (IGST) = 18% of 40000 = Rs. 7,200. Selling Price = 40000 + 15% = Rs. 46,000. Output Tax (CGST+SGST) = 18% of 46000 = Rs. 8,280. Net Tax Payable = Output Tax - Input Tax = 8280 - 7200 = Rs. 1,080.
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