How the price is discovered?

Dear all,
I have one question. Please answer.
We all know that best BID is the highest one and the best ASK is the lowest one.
Usually best BID is always less than best ASK. and the LTP is in between the 2.
For eg. best BID, LTP, ASK would be 99, 100, 101.

Now until now I had a impression that if I put BUY limit order of say 105, I will still get my order filled at 100, 101, 102 etc. ie I will get lowest price available.
Also if I put in the SELL limit order of say 95. I will still be able to sell my stocks at 100,99 98 etc. ie I will get best available price again.

Now what if at a moment of imbalance best BID is 105 and best ASK is 95!!
Will bidder get his order filled at cheaper price of 95 as someone is Willing to sell that low.
OR will seller get the great price of 105 even though he is willing to sell at 95 only as someone is willing to pay even 105 ?

@nithin @goku @portfolioplus911 , @chiragjp , @Umar_Ali, @Shailesh_B_Shah , @hydtrader, @haribabu @skraam, @portfolioplus911 @Neha_Raghuraman
Will 105 bidder get shares cheaper or 95 seller could sell his shares dear?

Every order carries a time stamp. Whichever order hits the exchange earlier will be pending in the system. No two orders will have the exact same time. At the exchange orders are kept upto microseconds (1000000/th of a second).

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