Calculation of Taxes on sales in GST

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Pankaj Kumar (Querist)
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22 June 2017 I am a trader in Bihar, I purchased a material from West Bengal for ₹ 1,00,000/- + paid IGST @ 18%=18,000/-,+ I paid freight for transporting 5000/- . No Now the total cost of this material is ₹ 1,23,000/- . Now I am resaling this material in Bihar for ₹ 1,30,000/- . Now I want to know that how much rupee I will charge as Taxes in my Tax Invoice?

Sagar Doshi

Sagar Doshi (Expert)
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23 June 2017 Should charge 18% on 1,30,000. Further you will get the Input tax credit of the GST you paid at the time of purchase

Pankaj Kumar

Pankaj Kumar (Querist)
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23 June 2017 That means I will charges ₹ 23400/- as GST to my customer. In this way I will got the input tax credit of ₹ 18000/-when I will finalize the GSTR 3. finally I have to pay ₹ 10400/- as Tax on 20th of next month. Am I right?

Pankaj Kumar

Pankaj Kumar (Querist)
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23 June 2017 sorry read 5400/- where 10400/-

Sagar Doshi

Sagar Doshi (Expert)
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23 June 2017 understanding is right. just want to clarify that in u r first draft u mentioned u r cost as 123000, but actually u r cost is 1,05,000 only since u will get it of 23000.

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