Q1 Goods Purchased from A LTD

PARTICULARS QTY RATE AMT
PLASTIC (In Kg) 200 5 1000
CGST 2.5%     25
SGST 2.5%     25
TOTAL     1050

Suppose Company Wants 200 Kg to Sell it to B LTD at Rs 7 per kg

Make Sales Bill and Tax Computation Assuming he is a Normal Dealer

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He is a Composition Dealer and Tax Rate is 1%

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In Which Option less GST is payable

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In Which Option Company earns more Profit

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Which Option Will buyer prefer if buyer is not Registered in GST?

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Which Option Will buyer prefer if buyer is Registered in GST?

-a-

In this Case,Purchase Price excluding taxes is Purchase Price

PARTICULARS Purchase Price
Normal Dealer 1400
Composition Dealer 1400

Hence,it makes no difference to Buyer

-ea-

Q 2 Goods Purchased from A LTD

PARTICULARS QTY RATE AMT
PLASTIC (In Kg) 200 5 1000
CGST 2.5%     25
SGST 2.5%     25
TOTAL     1050

Suppose Company Wants 200 Kg to Sell it to B LTD at Rs 300 Profit

Make Sales Bill and Tax Computation Assuming he is a Normal Dealer

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He is a Composition Dealer and Tax Rate is 1%

 

  Particular Amount
Actual Purchase Price 1050.00
Profit Required 300.00
Price Exlusing GST 1350.00
GST Amt (1/99) 13.64
Total Sales Price 1363.64
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In Which Option less GST is payable

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In Which Option Company earns more Profit

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Which Option Will buyer prefer if buyer is not Registered in GST?

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Which Option Will buyer prefer if buyer is Registered in GST?

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Q 3 Goods Purchased from A LTD

PARTICULARS QTY RATE AMT
PLASTIC (In Kg) 200 5 1000
CGST 3%     25
SGST 2%     25
TOTAL     1050

Suppose Company Wants 50 Kg to Sell it to B LTD at Rs 100 Profit

Make Sales Bill and Tax Computation Assuming he is a Normal Dealer

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He is a Composition Dealer and Tax Rate is 1%

Particular Amount
Actual Purchase Price 262.50
Profit Required 100.00
Price Exlusing GST 362.50
GST Amt (1/99) 3.66
Total Sales Price 366.16
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In Which Option less GST is payable

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In Which Option Company earns more Profit

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Which Option Will buyer prefer if buyer is not Registered in GST?

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Which Option Will buyer prefer if buyer is Registered in GST?

View Answer
  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .