Romeo, Akbar and Walter live in the same city. Romeo sells an article to Akbar marked at ₹5000. Akbar sells the same article to Walter at a profit of ₹400 for consumption. If all the transactions are under a GST of 18% find the total tax received by the Central government(CGST).

₹474

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₹456

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₹506

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₹486

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Solution

The correct option is D ₹486
Rate of GST = 18%
So, SGST = CGST = 9%
CGST received by the central government = CGST deposited by Romeo + CGST deposited by Akbar
= 9% of ₹5000 + 9% of ₹400 (Akbar deposits on profit only)
= ₹450 + ₹36 = ₹486

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Romeo, Akbar and Walter live in the same city. Romeo sells an article to Akbar marked at ₹5000. Akbar sells the same article to Walter at a profit of ₹400 for consumption. If all the transactions are under a GST of 18% find the total tax received by the Central government(CGST).

The correct option is D ₹486Rate of GST = 18% So, SGST = CGST = 9% CGST received by the central government = CGST deposited by Romeo + CGST deposited by Akbar = 9% of ₹5000 + 9% of ₹400 (Akbar deposits on profit only) = ₹450 + ₹36 = ₹486

The correct option is D ₹486
Rate of GST = 18%
So, SGST = CGST = 9%
CGST received by the central government = CGST deposited by Romeo + CGST deposited by Akbar
= 9% of ₹5000 + 9% of ₹400 (Akbar deposits on profit only)
= ₹450 + ₹36 = ₹486